Article: STOCKS - AUSTRALIAN SHARES FLAT AT NOON - OCT 12, 2009.

SYDNEY, Oct 12 Asia Pulse - The Australian sharemarket was flat at noon, having retreated from the morning's high, as banking stocks declined on the view that they've already had a good run.

Local stocks had gained in early trading after US shares rose to a new high for the year on Friday, and as miners gained on a better-than expected production report from iron ore producer Fortescue Metals.

At 1200 AEDT, the benchmark S&P/ASX200 index was down 4.6 points, or 0.1 per cent, at 4,748.3, while the broader All Ordinaries rose 0.8 point to 4,755.3.

On the Sydney Futures Exchange, the December share price index contract gained seven points to 4,756, ...

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