NAB National Australia Bank Limited

0027 GMT [Dow Jones] Australia's S&P/ASX 200 is flat at 5295.2. An overnight stabilization in the Australian dollar around US$0.8800 has seen some support for banks--after recent expectations of offshore selling. The 2% fall in spot iron ore to fresh six-month lows is weighing down miners. CBA (CBA.AU), ANZ (ANZ.AU) and NAB (NAB.AU) gain between 0.1% and 0.4% while BHP (BHP.AU), Rio Tinto (RIO.AU) and Fortescue (FMG.AU) fall between 0.5% and 3.5%. "We remain positive on global cyclicals and some of the domestic cyclicals," Macquarie Private Wealth division director Martin Lakos says. "We are reasonably comfortable with China's December-quarter GDP data and our forecast of 7.5% growth in China's GDP for 2014. Commodity prices are likely to hold around current levels." Woodside (WPL.AU) falls 1.1% after both Macquarie and RBC cut their ratings to Underperform. (david.rogers@wsj.com)

 
Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com 
 
 

Subscribe to WSJ: http://online.wsj.com?mod=djnwires