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STOCKS - AUSTRALIAN BOURSE LOWER AT NOON - AUG 1, 2006.
SYDNEY, Aug 1 Asia Pulse - Australian shares were broadly lower at midday, after an erratic morning of trading ahead of an interest rate decision tomorrow and pressured by a lower Wall Street close.
At 1200 AEST the S&P/ASX200 index was down 2.8 points at 4983.2, while the all ordinaries was also down 1.8 points at 4955.3.
On the Sydney Futures Exchange, the September share price index contract was down 17 points at 4954 on a volume of 6,482 contracts.
Bell Potter analyst Stuart Smith said that although statistics say a rate rise is on the cards, he remains skeptical and is not sure a rise is a forgone conclusion.
"We've still got this manic depressive behaviour ...
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Source: HighBeam Research, STOCKS - AUSTRALIAN BOURSE LOWER AT NOON - AUG 1, 2006.