The share market has rebounded from its early losses as gains by retailers, health companies and financials offset weakness among miners.
Lower commodity prices have caused a resources sector sell-off, with BHP Billiton down 69 cents at $25.58, Rio Tinto down 98 cents at $51.20 and Fortescue Metals 8.5 cents weaker at $1.665.
Newcrest Mining proved the exception, adding 39 cents to $11.92 due to a well received quarterly production report.
The banks are relatively steady after recovering from early falls, while Macquarie Group’s improved annual profit outlook has sent its shares up 84 cents to $85.30.
KEY FACTS
* At 1200 AEST, the benchmark S&P/ASX200 index was down 5.5 points, or 0.1 per cent, at 5,609.1 points.
* The broader All Ordinaries index was down 5.1 points, or 0.09 per cent, at 5,598.4 points.
* The September share price index futures contract was one point higher at 5553 points, with 12,268 contracts traded.
* National turnover was 727 million securities worth $1.89 billion.
