Aust stocks slip at noon

Local market falls slightly after lift in October private sector credit.

The Australian stock market is slightly lower after a lift in private sector credit data as shares in Australia's largest agribusiness GrainCorp plummeted.

At 1205 AEDT, the benchmark S&P/ASX200 index fell 0.39% to 5,313.7 points, while the broader All Ordinaries index fell 0.36% to 5,307.4.

The Reserve Bank of Australia released financial aggregates data for October, showing a lift of 0.3% in the month.

Financials were mostly lower.

ANZ fell 0.44% to $31.90 and Commonwealth Bank shed 0.64% to $77.52.

National Australia Bank rose 0.12% to $34.58 and Westpac fell 0.76% to $32.75.

Investment bank Macquarie Group rose 0.13% to $54.38.

In insurance, IAG lost 0.82% to $6.05, Suncorp fell 1.13% to $13.16 and QBE fell 0.26% to $15.53.

Materials were mixed.

BHP Billiton added 0.59% at $37.41, while rival Rio Tinto rose 2.61% to $66.10, after confirming the suspension of alumina production at its Gove refinery.

Fortescue Metals increased 0.71% to $5.69, while Newcrest added 0.78% to $7.75.

Whitehaven Coal fell 2.17% to $1.575 and Santos lost 1.62% to $13.95.

Oil Search retreated 2.14% to $7.985, while Woodside Petroleum fell 1.91% to $37.42.

The retail sector was mostly lower.

Wesfarmers fell 0.56% to $42.79, while rival Woolworths fell 0.44% to $33.66.

Myer retreated 0.35% to $2.84 and rival David Jones fell 1.32% to $2.98.

Harvey Norman fell 0.93% to $3.20, while JB Hi-Fi retreated 2.83% to $20.28.

In media, Fairfax Media was flat at 60 cents, 21st Century Fox rose 0.06% to $36.03 and News Corp fell 0.41% to $19.60.

Ten Network fell 0.86% to 28.75 cents, while Seven West rose 0.23% to $2.185 and Southern Cross Media fell 1.29% to $1.535.

Blue chip Qantas fell 1.02% to $1.2125, while Telstra rose 0.1% to $5.075.

In equities news, Primary Health Care, Beach Energy, Retail Food Group, Sundance Resources, Village Roadshow and Buderim Ginger have annual general meetings scheduled.

In Australia, the market yesterday closed flat after business investment grew strongly in the three months to September.

The benchmark S&P/ASX200 index gained 1.7 points, or 0.03%, to 5,326.6 points.

The broader All Ordinaries index added 1.4 points, or 0.03%, to 5,334.3.