Australian Market is Trading lower After a Flat Opening

• The Australian market is trading lower as investors are booking profits in banking shares. In morning, the benchmark S&P/ASX 200 index opened flat; as more talk of a December taper to the US Federal Reserve's stimulus keeps investors on edge; at 5272.5, while the All Ordinaries was trading at 5267.8, both virtually unchanged.

• Sectors, however, are mixed, with materials jumping 1.1 per cent, while financials are down 0.4 per cent. Mining shares are propping the market up, offsetting losses in the banks:

• BHP: +1%
• Rio: +1.2%
• ANZ: -0.4%
• CBA: -0.6%
• NAB: -0.6%
• Westpac: -0.5%

• Qantas Airlines have reported  a loss of up to $300 million for first half of financial year and it will cut 1000 jobs in near future. Qantas shares plunged after this news and it fell 16 per cent to $1.02 which is an all-time low level for them.

• Australian dollar also took a hit after the news that Australia's trade deficit has widened to a seasonally adjusted $529 million for October, after hitting $271 million last month. Presently, AUD is trading at 90.37 US cents.

http://www.capitalvia.com/au/