By RTT News, October 06, 2013, 09:44:00 PM EDT
(RTTNews.com) - The Australian market is trading flat on Monday, with investors mostly treading cautiously amid a lack of fresh triggers. Lingering concerns about the partial government shutdown in the U.S. too appears to be weighing on the market.
The benchmark S&P/ASX 200 index, which declined to 5,200.6 after rising to 5,214.2 earlier in the day, is currently trading at 5,202.4, down 5.5 points or 0.1 percent from its previous close. The broader All Ordinaries index is down 5.8 points or 0.1 percent at 5,200.1, off an early high of 5,212.8.
Monadelphous Group shares are down 3.6 percent. Downer EDI and Bluescope Steel are trading lower by 2 percent and 1.8 percent, respectively.
Henderson Group, Graincorp, Sims Metal Management and Arrium are down 1 to 1.6 percent.
Meanwhile, Leighton Holdings, which posted some sharp losses last week, is trading 3.2 percent higher on bargain hunting.
Origin Energy, Transurban Group, Dexus Property Group, ALS, Iluka Resources and Toll Holdings are all up 1.5 to 2 percent.
Twenty-First Century Fox, Seek, Insurance Australia Group, Flight Centre, PanAust and Ansell are also trading notably higher.
In the currency market, the Australian dollar opened flat against the U.S. dollar. In early trades, the local unit was quoting at US$0.9440, down slightly from Friday's close of US$0.9443.
On Wall Street, stocks ended modestly higher on Friday with a section of investors picking up stocks, amid optimism the government will soon find a solution to end the budget impasse.
The Dow ended up 76.1 points or 0.5 percent at 15,072.6, the Nasdaq closed 33.4 points or 0.9 percent up at 3,807.8 and the S&P 500 closed higher by 11.8 points or 0.7 percent at 1,690.5.
Major European markets too closed higher on Friday. While the U.K.'s FTSE 100 index edged up marginally, the French CAC 40 index and the German DAX index gained 0.9 percent and 0.3 percent respectively.
U.S. crude oil ended higher on Friday, mostly on supply disruption concerns after Tropical Storm Karen moved into the Gulf of Mexico. Crude for November delivery ended up $0.53 or 0.5 percent at $103.84 a barrel on the New York Mercantile Exchange.
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