Aust shares lower at noon

The share market is lower, weighed down by the resources and financials sectors.

After opening flat, selling in the financials pulled the market back, with Commonwealth Bank and NAB both in the red, and ANZ and Westpac flat.

Weaker commodity prices continue to weigh on BHP Billiton and Rio Tinto, while energy producers Woodside, Oil Search and Origin Energy were pulled back by a drop in the oil price.

Argo Investments rose 2.00 cents after announcing a 16.5 per cent rise in annual net profit to a record $228.1 million.

CSL shares flirted with the $100 mark after rising to $99.90 in the first five minutes on news it had completed its acquisition of Novartis' flu vaccine business but had dropped back to $98.67 by 1210 AEST.


* At 1210 AEST, the benchmark S&P/ASX200 index was down 19.1 points, or 0.34 cent, at 5,662.6.

* The broader All Ordinaries index was down 21.8 points, or 0.38 per cent, at 5,677.4.

* The September share price index futures contract was down 35 points at 5,616, with 11,931 contracts traded.

* At 1225 AEST, national turnover was 849 million securities worth $1.209 billion.

Market Data

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