Stocks flat at noon

The market marks time at lunch time

The Australian stock market was trading flat at noon after positive rallies on global bourses on solid data from the United States and comments from a top Federal Reserve official that the central bank would not hastily end its stimulus program.

At 1206 AEST, the benchmark S&P/ASX200 index edged down 0.01 per cent to 4,810.8points, while the broader All Ordinaries index added 0.06 per cent to 4,782.1 points.

In economic news on Friday, the Reserve Bank of Australia released financial aggregates for May, showing private sector credit rose 0.3 per cent.

In Perth, WA Premier Colin Barnett, BHP Billiton iron ore president Jimmy Wilson, Fortescue Metals Group chief executive Nev Power and Santos WA and NT vice president John Anderson are scheduled to speak at The Australian and Deutsche Bank Business Leaders Forum.

Graincorp chief executive Alison Watkins is scheduled to speak at American Chamber of Commerce lunch.

No major equities news is expected.

The market on Thursday closed significantly higher for a second straight day as investors grew more confident about China's financial system.

The benchmark S&P/ASX200 index was up 79.6 points, or 1.68 per cent, at 4,811.3 points, while the broader All Ordinaries index was up 77.0 points, or 1.64 per cent, to 4,784.8 points.

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