Aust stocks flat at noon

Local shares are trading flat as investors weigh stronger commodity prices against falls across global markets.

Wall Street and European markets dropped overnight, while Asian markets have also started Friday lower, following mixed economic data from the US.

But CMC Markets chief market strategist Michael McCarthy said that had been offset by gains in oil, copper and iron ore prices.

"We are caught in conflicting currents here because although we've seen weak leads from overseas markets, we saw strong rallies in industrial metals and energy," he said.

"Those two forces are playing off in the market."

However, the largest mining companies had not received a boost so far this session.

Mining giant BHP Billiton was down 12 cents at $35.86, Rio Tinto had lost 27 cents to $62.91 and Fortescue Metals was one cent lower at $5.25.

Gold miner Newcrest was 23 cents weaker at $9.45.

But the big four banks fared better, with National Australia Bank up 33 cents at $35.37, Westpac had lifted 16 cents to $34.37, ANZ climbed 29 cents to $32.84 and Commonwealth Bank was 36 cents higher at $76.91.

Qantas shares were up 1.5 cents at $1.09 after it unveiled major changes to its frequent flyer program.


* At 1215 AEDT on Friday the benchmark S&P/ASX200 index was up 3.2 points, or 0.06 per cent, at 5,353.

* The broader All Ordinaries index was up 2.5 points, or 0.05 per cent, at 5,362.2.

* The June share price index futures contract was six points higher at 5,351, with 11,201 contracts traded.

* National turnover was 916 million securities worth $3.7 billion.

Market Data

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