Aussie shares are slightly higher
Australian shares are slightly higher as geopolitical concerns counterbalance positive US earnings results.
IG Market analyst Stan Shamu said the local market was balancing out several factors following the downing of Malaysia Airlines flight MH17 and attacks on Gaza.
"We've got geopolitical risk and US earnings, which have been quite positive, so this has made the situation quite neutral for equities," Mr Shamu said.
"The market has really done nothing this morning."
Mr Shamu predicts local shares will continue to trade flat on Tuesday amid mixed moves and no consistent themes.
Overnight, the Dow Jones Industrial Average dropped 0.28 per cent while the broad-based S&P 500 declined 0.23 per cent.
In local company news, Oil Search doubled its quarterly revenue following the start of production at the massive PNG LNG project.
Its shares were up nine cents, or 0.95 per cent, at $9.59.
Meanwhile, a steady iron ore price helped boost mining stocks.
BHP added 26 cents to $38.48, Rio Tinto gained 53 cent to $64.23 and Fortescue Metals was 5.5 cents higher at $4.62.
The big banks were all lower, with the Commonwealth down four cents at $81.32, ANZ losing five cents at $33.34 and NAB dropping five cents to $34.20 and Westpac was one cent lower at $33.89.
Investors will be focused on upcoming US CPI figures, due on Tuesday night, and local inflation figures, due on Wednesday.
KEY FACTS
On Tuesday at 1200 AEST, the benchmark S&P/ASX200 index was up 2.8 points, or 0.05 per cent, at 5,542.7 points.
The broader All Ordinaries index was up 3.5 points, or 0.06 per cent, at 5,532.2 points.
The September share price index futures contract was two points lower at 5,499 points, with 9,519 contracts traded.
National turnover was 682 million securities worth $916 million.
