SYDNEY: The Australian stock market pared initial gains and is marginally lower on Wednesday, as traders digested a raft of corporate earnings results.
In late-morning trades, the benchmark S&P/ASX 200 Index is down 3.20 points or 0.05 percent to 5,923.80, off a low of 5,914.50 recorded earlier. The broader All Ordinaries Index is declining 2.80 points or 0.05 percent to 5,887.20.
In the mining sector, BHP Billiton (BHP) is up 1.2 percent, Rio Tinto (RIO) is adding 0.7 percent and Fortescue Metals is higher by 0.8 percent. Gold miner Newcrest Mining is advancing 0.4 percent.