THE share market has opened lower, slipping from a five month high, following a mixed lead from offshore markets.
At 10.16am (AEDT), the benchmark S&P/ASX200 index was down 13.6 points, or 0.29 per cent, at 4673.2, while the broader All Ordinaries index had fallen 12.2 points, or 0.26 per cent, to 4725.8.
Australian stocks closed at a five-month high on Wednesday, with the All Ordinaries reaching its highest closing level since May 3.
On the Sydney Futures Exchange, the December share price index contract was 12 points lower at 4,687 points, with 8347 contracts traded.
There were about 11 stocks up for every 10 that were down in early trade, with weakness among the big retail banks dragging the broader market lower.
At 10.19am (AEDT), ANZ was nine cents lower at $23.98, CBA had fallen 40 cents to $51.44, NAB was off nine cents at $25.79 and Westpac had slipped 19 cents to $23.23.
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Wall Street closed mixed overnight - the Dow Jones Industrial Average gained 0.21 per cent but the S&P500 slipped 0.07 per cent and the NASDAQ finished down 0.8 per cent.
Futures contract prices for gold, silver, copper and oil settled firmer.
EL&C Baillieu Stockbroking director Richard Morrow said the market was indecisive following some very strong performances recently.
Also, the foreign exchange market was having a "major influence", he said.
"The world's major currencies are all in a headlong rush to the bottom," Mr Morrow said.
"When there's sort of shifting sands like that people are unsure of where they should be investing and I think that's all maybe weighing down on the industrial end of the market today.
"It's a bit subdued, but mind you we've had some very strong performances over the past six weeks so it's not surprising that we're just sort of a bit indecisive this morning."
At 10.43am (AEDT), the big miners were higher.
BHP Billiton had risen 31 cents to $40.84, while Rio Tinto was up 64 cents at $79.63.
Fortescue Metals was steady at $5.45.
Market higher at noon1 big trade led to market plunge
