The Australian sharemarket is slightly lower mid-session despite a positive start from a solid lead from Wall Street overnight.
Despite opening more than half a per cent higher, the benchmark S&P/ASX200 index slid to be down 9.7 points, or 0.2 per cent at 4957.6 points while the broader All Ordinaries index was down 9.7 points, or 0.2 per cent, at 4957.6 points.
Lonsec senior client adviser Michael Heffernan said the local bourse had kicked off with a bit more gusto compared to the Wednesday trading session but had started to ease back mid-morning..
"Clearly the lowering in temperature internationally has helped the markets," Mr Heffernan said.
"And also because the US market was up on the back of the Fed (US Federal Reserve) statement that they're going to continue to print the money to keep the (US) economy kicking over."
On Wall Street in the US overnight, stocks recorded solid gains as the Federal Reserve kept its policy of economic stimulus in place.
Markets in Europe rebounded as European leaders sought to sooth investor concerns, saying they were willing to work with Cyprus to help it avoid bankruptcy.
At 9.03am, among the major banks, Commonwealth Bank was 77 cents lower at $68.39 after the competition watchdog said it was free to seize control of independent mortgage provider Aussie Home Loans.
Commonwealth Bank already held 33 per cent of Aussie Home Loans and was looking to acquire the remaining 67 per cent stake.
Among the other major banks, ANZ lifted 32 cents to $28.15, National Australia Bank gained 20 cents at $30.69, and Westpac rose 35 cents to $30.29.
Among other stocks, Premier Investments added 16 cents to $7.86, after the retailer behind brands including Just Jeans and Portmans lifted its first half profit by 21 per cent.
Elsewhere in the retail sector, Billabong was 11.5 cents, or 14.2 per cent, lower at 69.5 cents ahead of a statement by the company.
Building materials group Brickworks was 15 cents richer at $12.70 as it vowed not to waste any more time reviewing its long-standing cross-shareholding with investment vehicle Washington H Soul Pattinson.Struggling aquaculture business Clean Seas Tuna was off 0.7 cents at 2.1 cents as it moved to raise $3.6 million to drive its South Australian yellowtail kingfish operations.
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