Aust stocks weaker at noon

Local market drops as fall in iron ore price weighs on major, junior miners.

The Australian sharemarket is weaker at noon as a fall in the iron ore price weighs on the materials sector.

At 12.05pm (AEST), the benchmark S&P/ASX200 index dropped 46.4 points, or 0.85%, to 5,382.4 points, while the broader All Ordinaries index shed 45.6 points, or 0.84%, to 5,362.3 points.

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