Australian shares remain lower as the major banks, all down more than one per cent, continue to drag on the market.

At noon AEDT, the ANZ, the worst performer of the big four, was down 48 cents, or 2.05 per cent, at $22.98.

But the miners were among the few stocks in the green, though gains were modest.

BHP Billiton was up 24 cents, or 1.42 per cent, at $17.10 and Rio Tinto had lifted 27 cents, 0.63 per cent, to $42.96.

Major energy stocks Woodside Petroleum and Oil Search were both lower.

Energy giant Santos was down 0.5 cents, or 0.12 per cent, to $4.025 after news it had appointed six new executives and would continue to focus on onshore oil and gas production despite community opposition.

KEY FACTS:

* At 1204 AEDT, the benchmark S&P/ASX200 index was down 61.2 points, or 1.2 per cent, at 5,021.6 points.

* The broader All Ordinaries index was down 57.4 points, or 1.11 per cent, at 5,094.4 points.

* The June share price index futures contract was 59 points lower at 5,007 points, with 22,692 contracts traded.

* National turnover was $788 million securities traded, worth $1.42 billion.