Aust stocks little changed at noon

Retail Food Group (RFG) suffered its worst dive in five-months this morning as the stock came out of a trading halt following a capital raising.

The Australian stock market has narrowed early losses following a surge in building approvals and growth in private sector credit.

At the 1205 AEDT, the benchmark S&P/ASX200 index lost 0.12% to 5,424.5 points, while the broader All Ordinaries index fell 0.11%, at 5,419.7 points.

In economic news on Thursday, Australian Bureau of Statistics (ABS) data showed building approvals jumped in September, while Reserve Bank of Australia (RBA) figures showed private sector credit lifted for the month.

In equities news, Origin Energy is expected to release its first quarter production figures.

National Australia Bank Ltd posted an annual profit rise of 9.3%, while Woolworths (WOW) recorded a 3 per cent lift in Q3 sales.

Boral, Flight Centre, Tabcorp Holdings, Tatts Group, Perpetual, Tassal, Platinum Asset Management, Federation Centres and Specialty Fashion Group have annual general meetings.

The local market on Wednesday edged higher as investors expected the US Federal Reserve to maintain its economic stimulus measures.

The benchmark S&P/ASX200 index was up 15.4 points, or 0.28 per cent, at 5,430.9.

The broader All Ordinaries index was up 14.7 points, or 0.27 per cent, at 5,425.4.

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