The Aussie market is hovering around breakeven heading into the afternoon session, with the XJO currently trading near 4270.
As would be expected, the sectors are evenly balanced between winners and losers, with healthcare, telcos and consumer discretionary plays leading the way.
Conversely, energy, financial and materials stocks are the laggards.
In company news, James Hardie posted a 3Q FY12 profit of US$27.7 million, a 32% rise compared to the same period in FY11. The results missed analyst expectations.
Elsewhere, QBE announced a FY11 profit of US$704 million, a 45% fall on the previous corresponding period.
The Group also announced it was seeking to raise $US 500 million from institutional and retail investors in order to replace its current tier two convertible debt.
Around the region, Asian markets are mixed; the Hang Seng is up 0.5% whilst the Nikkei is 0.7% weaker.