The local share market is fluctuating close to the red after a volatile morning session based on a mixed bag of local earning results.

Stocks have pared back some of their gains after some brisk morning rallies where consumer staples and telcos pulled ahead.

However at noon three of the four banks had tipped into the red, with Commonwealth Bank’s one per cent fall dragging the bourse lower.

Iron ore players BHP Billiton and Fortescue are also adding pressure, down two to three per cent, and the utilities sector is lower.

In profit news, Cochlear shares soared past the $100 mark after it reported a better-than-expected half yearly result, while Suncorp shareholders reacted less favourably to the insurer’s weak result.

KEY FACTS:

* At 1208 AEDT on Thursday, the benchmark S&P/ASX200 index was up 1.2 points, or 0.03 per cent, at 4,776.9 points.

* The broader All Ordinaries index was up 82.1 points, or 0.04 per cent, at 4,828.6 points.

* The March share price index futures contract was up 12 points at 4,722 points, with 17,724 contracts traded.

* National turnover was 1.2 billion securities traded, worth $1.9 billion.