The Aussie market has bounced back a touch so far today with the XJO currently 20 points (+0.5%) above water, at 4160.
The sectors are fairly evenly balanced between winners and losers with energy, industrials and financials the pick of the bunch.
Conversely, IT, utilities and healthcare issues are the laggards.
In economic news unemployment rate rose to 5.2% in February as companies shed more than 15,000 jobs, increasing the chances of another interest rate cut.
Companies added no full-time jobs for the month and lost 15,400 part-time positions. Analysts had forecast that the economy would add 5000 jobs in February.
In company news, James Hardie advised the market that it yesterday received $121.8 million from the Australian Taxation Office, as a result of overpaid interest income.
Ivanhoe Mines announced that it has produced its first copper and gold concentrate from its Osborne processing facilities in northwest QLD.
The Osborne plant was commissioned in January and is expected to handle about 700,000 to 900,000 metric tons of ore this year.
Around the region, Asian markets are mainly stronger; the Hang Seng is 0.4% stronger whilst the Nikkei is enjoying strong gains, currently up 1%.