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Shares flat, investors cautious

Updated - 7/9/2010 - news.com.au.

 

THE share market was flat at noon, with investors cautious ahead of an interest rate announcement and an indication on which political party will rule.

At midday (AEST) the benchmark S&P/ASX200 index was up 6.6 points, or 0.14 per cent, at 4582.1, while the broader All Ordinaries index had risen 7.1 points to 4622.8.

On the Sydney Futures Exchange, the September share price index contract was nine points lower at 4583 on a volume of 14,837 contracts.

A senior dealer with Shaw Stockbroking, Jamie Spiteri, said the market was drifting, with small gains to financials, as investors were wary ahead of a Reserve Bank of Australia interest rate decision due out at 2.30pm (AEST).

A possible decision by key independent members of Parliament on which party they will back to take power in Australia is expected at 2pm (AEST), and Mr Spiteri said that may also weigh on investors’ minds.


Read more: www.news.com.au/business/breaking-news/shares-flat-investors-cautious/story-e6frfkur-1225915277019

 

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