Local stocks have started the trading week on a muted note, following a weak offshore lead and a fall in commodity prices. November retail sales data showed a slight pick-up in consumer spending in the month, but it was really an off-set to the fall experienced in October.

Financial stocks are all lower, with the NAB (NAB) the worst out of the big four, down 0.6pct to $23.54.

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Both BHP Billiton (BHP) and Rio Tinto (RIO) have fallen into the red due to the falls seen on the London Metals Exchange on Friday. BHP is trading down 0.4pct to $44.44 while Rio Tinto (RIO) is weaker by 0.2pct to $84.31.

Shares in Singapore based Skywest Airlines (SXR) have jumped 16.3pct to $0.50 after announcing it has expanded its relationship with Virgin Blue Australia (VBA). VBA shares are up 2.3pct to $0.44.

The Australian dollar is worth US99.67c, £0.6412 and €77.29c.

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