Aust stocks lower at noon

Local bourse narrows early losses but remains in the red after EU growth downgrade.

The Australian stock market has narrowed earlier losses but remained in the red as international markets digested the European Union's downgraded growth and unemployment forecasts.

At 1205 AEDT, the benchmark S&P/ASX200 index fell 0.27% to 5,417.2 points, while the broader All Ordinaries index decreased 0.26% to 5,411.5 points.

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