PERTH: The Australian sharemarket was down more than half a percentage point at noon, as weakness in the big four banks and energy stocks dragged on the bourse.
At 12.05pm (AEST), the benchmark S & P/ASX200 index was 39.3 points, or 0.69 per cent, lower at 5658.6, while the broader All Ordinaries fell 36.1 points, or 0.64 per cent, to 5645.8.
Energy stocks were deep in the red, defying firming oil prices which rose modestly and snapped a three-day skid as traders await key data on US petroleum supplies and employment levels.
Oil Search gave up 2.78 per cent to $7.00.
Santos fell 1.26 per cent to $7.06, while Woodside Petroleum slipped 1 per cent to $34.63.
Financial stocks also weighed on the bourse, with all the big banks trading softer.
ANZ lost 1.04 per cent to $32.44, while Commonwealth Bank retreated 1.14 per cent to $87.03.
National Australia Bank retreated 1.24 per cent to $34.13 while Westpac gave up 1.35 per cent to $34.30.
Consumer staples also lagged.
Woolworths slipped 0.77 per cent to $28.50, while Wesfarmers gave up 1.25 per cent to $42.53.
But mining stocks were healthy, with the sector largely in the black despite the price of iron ore moving south overnight.
