The Australian share market has lost ground.
THE Australian share market has turned lower, coming off the early-session boost provided by the banks and miners.
At noon, the main stock indices were down about 0.5 per cent after being about 0.5 per cent higher shortly after the open.
US trading boards were closed overnight for that nation’s Presidents Day national public holiday.
Locally, shares in investor darling, CSL were down 76c at $103.67 after the vaccine heavyweight lifted its first-half net profit 3.8 per cent, helped by strong revenue growth of key products.
Rail and ports operator Asciano shed 3c to $8.87 after it recommended shareholders accepted a $9.01 billion offer from a consortium led by Australian stevedore Qube Holdings.
Among the sectors, financials were 1.4 per cent lower while materials were up 1.3 per cent.
The Commonwealth Bank, which is trading ex-dividend, was down $2.23, or 4.3 per cent, at $71.07.
Analysts were also mulling over the minutes released today from the Reserve Bank’s February board meeting in which the central bank appeared upbeat on the home front but would not rule out another interest rate cut in the face of an uncertain global economy.
At noon, the benchmark ASX 200 index was down 25 points, or 0.5 per cent, at 4818.5 points.
The broader All Ordinaries index was down 19.5 points, or 0.4 per cent, at 4873.8 points.
National turnover was one billion securities traded, worth $2.1 billion.
AAP
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