The Australian share market is flat at noon, declines in banking stocks offset by gains in the miners, boosted by stronger copper and gold prices.
The S&P/ASX200 index is down 7 points at 4,619 and on the futures market, the SPI200 is down 12.
In economic news: The Melbourne Institute household financial conditions index dropped to 32.7 per cent in September quarter from 33.7 per cent in June.
To company news: Mount Gibson Iron Ltd (ASX:MGX) will increase unloading capacity at its Geraldton Port to 3000 tonnes per hour, following the Western Australian State Government approving the upgrade of its train unloading facility. The hematite miner says will spend $20 million to fund the upgrade that is expected to be finished in time for the first shipments from Extension Hill around September next year.Mount Gibson Iron shares are steady at $1.715.
ING has appointed Kevin McCann as chairman of ING Management Ltd, to replace Richard Colless who will retire after eight years in the position. Mr McCann is currently chairman of Origin Energy Ltd (ASX:ORG), lead independent director of Macquarie Group Ltd (ASX:MQG), and director of Macquarie Bank Ltd and BlueScope Steel Ltd (ASX:BSL). Looking at one of ING listed funds, shares in ING Industrial Fund (ASX:IIF) are 1.05% up at $0.48.
Turning now to market indices: The best performing sector is Health Care, with the index up 73 points to 8,235. Shares in CSL are up 1.68% to $33.35. Shares in ResMed and Sonic Healthcare are also higher. The worst performing sector at midday is Consumer Discretionary, with the index down 17 points to 1,553. Shares in Ten Network Holdings dropped 3.21% to $1.355. Shares in David Jones and Fairfax Media are also lower at midday.
To New Zealand now, the NZSX50 is down 3 points. Taking a look at the top 4 stocks by turnover: Fletcher Building is at the top of the list with stock up 0.35% at $8.63 followed by; Telecom of New Zealand, Telstra and Westpac.
To gold and the dollar: Gold is trading at $1293 US an ounce and the Aussie dollar is trading at 95.67 4 US cents.
