Shares flat, blue chips mixed

The Australian share market is flat in early trade, with falls for some miners and banks offset by gains for some other blue chips, such as Telstra.

The All Ordinaries index was up 2 points to 4,740, while the ASX 200 was also 2 points higher to 4,720 around 11:20am (AEDT).

Rio Tinto was down 1.4 per cent and Fortescue Metals 1.6 per cent, while BHP Billiton was only down 0.2 per cent.

That is despite another rise in Chinese iron ore spot prices to $US153.90 a tonne yesterday.

Three of the four major banks were trading lower, with Commonwealth the worst performing with a 1 per cent fall.

Westpac was up 0.7 per cent to $26.45.

Telstra was up more than 1 per cent to $4.50.

The retail sector was also generally higher, with JB Hi-Fi posting a 2 per cent gain, and Harvey Norman was up 1.3 per cent, as was David Jones.

The Australian dollar was also moderately stronger, at 105.07 US cents.

Market Data

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