Aust stocks slip at noon

The Australian stock market fell almost half a per cent at noon, ahead of tomorrow's federal election and after encouraging US employment data boosted Wall Street overnight.

At 1205 AEST, the benchmark S&P/ASX200 index was 0.45 per cent lower at 5,119.5 points, while the broader All Ordinaries index lost 0.4 per cent to 5,118.1 points.

In economic news, the Australian Industry Group and Housing Industry Association's performance of construction index for August was released, showing the sector had slowed in the month.

Future Fund chairman David Gonski is also scheduled to speak about Australia's missed opportunities in Asia at a CEDA event in Melbourne.

The market on Thursday was pulled back by falls among resources and banking stocks.

The benchmark S&P/ASX200 index dropped 19.1 points, or 0.37 per cent, lower to 5,142.5, and the broader All Ordinaries index fell by 18.1 points, or 0.35 per cent, to 5,138.4.