Shares flat ahead of rates decision

The share market remains relatively flat as investors wait for the Reserve Bank's decision on interest rates and the latest economic growth figures.

The market spent most of the morning in marginally negative territory, before rising to be modestly higher at noon after the release of better than expected building approvals numbers.

But IG market dealer Chris Weston said those numbers were not particularly influential on trade, and most investors were waiting for more significant news.

"The market is likely to be in a holding pattern until the RBA's announcement this afternoon," he said.

"But even then I don't expect there to be too much movement, as the RBA is not likely to change its stance."

No change is expected to be made to the cash rate, and the bank is also expected to repeat its statement that the rate is set for a period of stability.

Economic growth figures for the June quarter, to be released on Wednesday, are set to also influence trade.

The energy sector was market's the best performer on Tuesday, with Origin Energy up 41 cents at $16.05, Santos up 17 cents at $15.02 and Oil Search 9.5 cents higher at $9.755.

Telstra was also lifting the market, up 5.5 cents at $5.635.

The resources sector was mostly lower, as iron ore prices again fell overnight.

Rio Tinto was down 26.5 cents at $62.535 and Fortescue Metals was 2.5 cents weaker at $4.065, while BHP Billiton was one cent higher at $36.71.

The major banks were relatively flat.

ANZ was up 5.5 cents at $33.485, Commonwealth Bank was down one cent at $81.29, National Australia Bank had lost eight cents to $35.04 and Westpac was six cents weaker at $35.08.

KEY FACTS

• At 1233 AEST on Tuesday, the benchmark S&P/ASX200 index was up 7.7 points, or 0.14 per cent, at 5,637.5 points.

• The broader All Ordinaries index was up 7.4 points, or 0.13 per cent, at 5,636.7 points.

• The September share price index futures contract was 12 points higher at 5,621 points, with 7,562 contracts traded.

• National turnover was 1.05 million securities worth $1.5 billion.