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Shares slightly weaker in quiet trade

The share market is lower due to weakness in the major financial and mining stocks.

With no new local economic data, investors are taking their cues from Wall Street, which fell in its last session due to weaker earnings from several large companies, Commsec market analyst Steven Daghlian said.

"The market is slightly lower, which was to be expected following sluggish profit results in the US from Amazon and Visa on Friday," he said.

The major banks, among the largest stocks on the market, were reflecting the negative mood.

Commonwealth Bank had shed 28 cents to $82, Westpac had lost 11 cents to $34.17 and ANZ had dropped 15 cents to $33.60.

National Australia Bank bucked the trend, adding seven cents to $34.66 after it sold a slice of its British commercial real estate loans portfolio for STG625 million ($A1.14 billion).

In resources, BHP Billiton was down five cents at $38.95, Rio Tinto was 21 cents lower at $64.88, while Fortescue Metals had added five cents to $4.63.

"Commodity prices are mixed but gold is higher which has given Newcrest a boost," Mr Daghlian said.

Gold miner Newcrest was up 17 cents at $10.87.

In other news, BC Iron flagged a lift in its full year earnings, despite being hit by a slide in iron ore prices.

Its shares were up three cents at $3.28.

Construction giant Leighton suffered a 20 per cent slide in half year profit, and its shares dropped 58 cents to $22.07.

Healthscope, one of Australia's largest private hospital operators, made a positive return to the share market, with its shares up three cents at $2.13 soon after they began trading at noon.

KEY FACTS

  • On Monday at 1200 AEST, the benchmark S&P/ASX200 index was down 10.1 points, or 0.18 per cent, at 5,573.4 points.


  • The broader All Ordinaries index was down nine points, or 0.16 per cent, at 5,565.2 points.


  • The September share price index futures contract was six points lower at 5,524 points, with 8,905 contracts traded.


  • National turnover was 575 million shares worth $895 million.