The Australian share market is flat as gains from the banking sector offset weakness elsewhere.
Commsec chief economist Craig James said it had been a lacklustre start to the week for the local market, following a soft lead from US and European stocks on Friday.
He said lower commodity prices were also having an impact on the local market.
"Oil, gold and base metal prices are down so that is certainly putting a bit of weight on the resources sector," he said.
Mr James said banking stocks again were among the strongest performers on Monday.
Among the big four banks, ANZ was 21 cents higher at $29.62, Commonwealth Bank gained 39 cents to $74.04, NAB climbed 25 cents to $31.25, while Westpac had lifted 37 cents to $30.89.
Meanwhile, BHP Billiton was 11 cents lower at $34.49.
And copper and gold miner OZ Minerals was down four cents, or nearly one per cent, to $4.09, after announcing it would take a hit to earnings of up to $240 million due in part to lower commodity prices.
But Rio Tinto gained seven cents to $57.31 after it said it had agreed to sell its 80 per cent stake in Northparkes mine, in central NSW, to China Molybdenum for $US820 million ($A892.37 million).
* At 1205 AEST, the benchmark S&P/ASX200 index was 0.7 points, or 0.01 per cent, higher, at 5,042.7.
* The broader All Ordinaries index was also up 0.7 points, or 0.01 per cent, at 5,024.5
* On the ASX 24, the September share price index futures contract was seven points lower at 5,001 with 9,391 contracts traded.
* National turnover was 558 million securities worth $1.01 billion.