Aust stocks lower at noon

Local market falls slightly as investors wait for Reserve Bank cash rate decision.

The local market fell slightly at midday, as investors wait for the Reserve Bank of Australia's interest rate decision this afternoon.

At 1205 AEST, the benchmark S&P/ASX200 index fell 0.35% to 5,093.5 points, while the broader All Ordinaries index lost 0.33% to 5,077.1 points.

IG market analyst Evan Lucas said all eyes would be on the Reserve Bank's cash rate decision today but data out of the US overnight showing an acceleration in the economy would "influence the markets for the next several months".

In Australia, the market on Monday posted a slight fall, ending two weeks of gains by the market's largest companies.

The weaker performance was linked to data out of the United States on Friday that showed less jobs were created than expected in July, CMC Markets senior trader Tim Waterer said.

The benchmark S&P/ASX200 index was down 5.5 points, or 0.11%, at 5,111.3 points, while the broader All Ordinaries index was down 4.9 points, or 0.10%, to 5,093.8 points.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles