Australian stocks have opened virtually flat amid weakness in resources stocks and moderate gains for the big four banks.
Morgans senior private client advisor Bill Chatterton said the market had started Wednesday with a slightly negative tone following a lacklustre session in the US and a slide in base metals prices.
"The US didn't really do anything so we got no lead from them," he said.
"The only real theme today is that the materials sector is a little bit weaker."
Global mining giant BHP was down 30 cents to $37.50 while rival Rio Tinto lost 58 cents to $64.46.
Iron ore miner Fortescue was flat at $5.74 and gold miner Newcrest lost 18 cents, or 2.2 per cent to $7.92.
Among the major banks, Westpac lifted 23 cents to $32.99, ANZ gained nine cents to $32.12, Commonwealth Bank gained 25 cents to $77.10 while National Australia Bank was down 19 cents at $34.59.
Telstra was half a cent higher at 5.085.
Shares in struggling rural services company Elders rose half a cent, or more than four per cent, to 12 cents after it announced the immediate departure of chief executive Malcolm Jackman.
* At 1025 AEDT on Wednesday, the benchmark S&P/ASX200 index was down 3.3 points, or 0.06 per cent, at 5,353.7.
* The broader All Ordinaries index was down 3.6 points, or 0.07 per cent, at 5,347.
* The December share price index futures contract was 18 points lower at 5,365 with 6,259 contracts traded.
* National turnover was 411 million securities worth $750 million.