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STOCKS - AUSTRALIAN SHARES WEAKER AT NOON - DEC 1, 2006.
SYDNEY, Dec 1 Asia Pulse - The Australian stock market was lower at noon, slumping after the all ordinaries hit an intraday high just after the start of trading.
At 1200 AEDT, the benchmark S&P/ASX200 index had dropped 21 points to 5461.1, while the all ordinaries fell 15.5 points to 5446.1 after reaching a intraday high of 5475.6.
On the Sydney Futures Exchange, the December share price index contract was three points lower at 5460, on a volume of 8081 contracts.
ABN Amro Morgans Brisbane director of equities Bill Chatterton said the slump in trade had been caused by profit taking in the market.
"The market has been really strong, and I think on occasions when markets move up there are fund managers out there who are taking the opportunity to put a bit of cash in there," he said.
"I think it's going to be harder going ...
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