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STOCKS - AUSTRALIAN SHARES LOWER TO NOON - MAY 1, 2008.
SYDNEY, May 1 Asia Pulse - The Australian stock market was lower at noon, on a day of lower trading volumes, with resource companies leading declines after commodity prices fell overnight.
At 1200 AEST, the benchmark S&P/ASX200 index was down 37.4 points, or 0.67 per cent, to 5558, and the broader All Ordinaries had lost 32.9 points, or 0.58 per cent, to 5624.1.
On the Sydney Futures exchange, the June share price index declined 23 points at 5,578 on a volume of 10,384 contracts.
Bell Potter client advisor Greg McPherson said lower trading volumes suggested investors were very cautious at the moment.
"It's a quiet day. The commodity stocks are having a breather after the falls in commodity prices last night," Mr McPherson said.
BHP Billiton shed ten cents, or 0.24 per cent, to $42.17 and Rio Tinto dropped $1.58, or 1.16 ...
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