The Aussie market is slightly underwater heading into the afternoon session, with the XJO currently trading at 4335, down 0.4%.

The sectors are fairly evenly balance between winners and losers, with consumer discretionary and materials stocks the hardest hit, whilst telcos and energy plays are the strongest.

In company news, Transpacific Industries (TPI) is up approximately 9% after announcing a debt restructuring and capital raising.

Elsewhere, Nexus Energy (NXS) is down nearly 7% and Lynas (LYC) is down 4% after reporting quarterly numbers.

The biggest story of the day, however, remains Qantas, which is holding onto a more than 6% gain following the end of the industrial action.

Around the region, Asian markets are mixed; the Hang Send is up 0.1% whilst the Shanghai Composite is down 0.4%.

The only notable mover is the Nikkei, which is 0.8% stronger after the Japanese finance minister announced a new round of foreign-exchange intervention.