Australian stocks are flat mid-session as falls in mining shares canceled out gains made in the financial sector.
At 10.00am, the benchmark S&P/ASX200 index was up 1.8 points, or 0.04 per cent, at 4440.4 points, while the broader All Ordinaries index was up 1.3 points, or 0.03 per cent, to 4460.1 points.
On the ASX 24, the December share price index futures contract was seven points higher at 4442 points, with 10,702 contracts traded.
IG Markets analyst Cameron Peacock said many investors were in a consolidation phase after recent gains on the market.
"The resources sector is like a weight around the market's ankles today," he said.
BHP Billiton had dropped 53 cents to $32.90, Rio Tinto was down 52 cents to $53.20 and Fortescue had lost 3.5 cents to $3.49.
However, the major banks were all higher.
ANZ was up 24 cents tot $25.29, after announcing plans to spend up to $1.5 billion on new mobile banking apps and upgrades of its branches in a bid to attract more customers.
Commonwealth Bank was 37 cents higher at $56.37, National Australia Bank had gained 17.5 cents to $26.12 and Westpac was up 31 cents to $25.27.
In economic news, Australian retail spending rose a weaker than expected 0.2 per cent in August, and residential building approvals rose a better than expected 6.4 per cent to 12,046 units in July.
Retailers were mixed, with David Jones down 3.5 cents at $2.475, Harvey Norman had lost 1.75 cents to $1.9625, and Myer was up one cent to $1.79.National turnover was 1.23 billion securities worth $1.25 billion.
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