PERTH: The Australian sharemarket opened little changed following falls in European stocks and a mixed performance on Wall Street amid greater expectations of a US interest rate rise.
At the 10.15am (AEDT) official market open, the benchmark S&P/ASX200 index rose 4.5 points, or 0.09 per cent, to 5103.7 points, while the broader All Ordinaries added 5.6 points, or 0.11 per cent, to 5163.3 points.
CMC chief market analyst Ric Spooner said bargain hunters appear to be testing sentiment as the market opens this morning, concerned that recent selling may dry up.
“The limited US market reaction to increased certainty of a December rate hike is encouraging,” he said.
“On the other hand, concerns about China and weaker commodity prices appear to have been the dominant negative for market sentiment in recent days.”
Energy stocks rose 1.03 per cent.
Oil Search slipped 0.64 per cent to $7.82 but Woodside retreated 0.41 per cent to $29.28.
Financials added 0.27 per cent, despite Westpac suffering heavy falls as it traded ex-dividend.
Commonwealth Bank lifted 1.18 per cent to $75.64 while ANZ shares added 1.72 per cent to $25.98.
Westpac, trading ex-dividend, was down 2.82 per cent at $30.03 while National Australia Bank rallied 0.97 per cent to $28.24.
Consumer staples also added 0.27 per cent.
Woolworths added 0.25 per cent to $23.94 and Wesfarmers gave up 0.03 per cent to $38.50.
