The Aussie market has experienced a fairly wild ride so far today.

The index fell sharply just after the open, despite the positive leads overnight, only to recover to currently be trading just under water.

The sectors are fairly evenly balanced, with consumer discretionary and utilities stocks the best performers whilst financials and materials struggle.

In company news, Qantas has announced a new international strategy including cutting some routes and setting up a new premium subsidiary in Asia.

The stock has reacted positive, currently trading more than 2% higher on the day.

Around the region, Asian markets are mainly stronger; the Hang Seng is up 0.6% and the Nikkei is up 0.3%.

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