The flurry of late morning activity was led by the industrial sector with Aurizon Holdings and Qantas Airways both making gains.
The S&P/ASX 200 index is 2.5 points down at 5,290. On the futures market the SPI is 6 points lower.
Economic news
Australian Industry Group has reported its performance of manufacturing index has dropped 0.8 per cent to 46.5 in September. A figure below 50 represents contraction in the industry and the report cited a high Australian dollar and the decline of car manufacturing as driving the drop.
Company news
UXC Limited (ASX:UXC) will acquire the cyber security company Saltbush Group.
Axiom Mining Limited (ASX:AVQ) has hit a snag in its Solomon Islands court battle with Sumitomo serving an application for an interim injunction.
The best performing sector is industrials, gaining 0.6 per cent to 4,035. Shares in Mermaid Marine Australia Limited (ASX:MRM) have risen 10.36 per cent and trading at $2.13. Shares in Aurizon Holdings Limited (ASX:AZJ) and Recall Holdings Limited (ASX:REC) are also stronger.
The worst performing sector is health care, falling 0.8 per cent to 15,240. Shares in Mesoblast limited (ASX:MSB) have fallen 1.39 per cent, trading at $4.26. Shares in Sigma Pharmaceutical Limited (ASX:SIP) and CSL Limited (ASX:CSL) are also lower.