The share market remains lower due to weak leads from the US and Europe and sliding commodity prices.

The market opened around half a per cent lower and remained at a similar level at noon, following a fall of almost one per cent on Wall Street on Friday and even larger falls on European markets.

Mining and energy stocks were the weakest performers on the local market as commodity prices dropped on Friday, CommSec market analyst Stephen Daghlian said.

“Almost all base metals, iron ore and oil all fell back on Friday, so that was always going to make things difficult for mining and energy stocks and that’s exactly what we are seeing,” he said.

Santos was down 25 cents at $7.44 and Woodside Petroleum had dropped 42 cents to $36.63.

BHP Billiton was down 51 cents at $28.65, Rio Tinto had fallen 68 cents to $58.72 and Fortescue Metals was eight cents lower at $2.70.

Gold miners were higher however, as the price of the precious metal continues to rise.

Newcrest was up 32.5 cents at $12.550 and Alacer gold was 12 cents higher at $2.83.

The big banks were slightly lower, with NAB down 25 cents at $33.98, ANZ 10 cents weaker at $32.29, Commonwealth Bank down 12 cents at $85.92, while Westpac was up three cents at $33.43.

Telstra was down three cents at $6.04.

Shares in Fairfax Media gained three cents to 90 cents after it announced it would buy the remaining 50 per cent of Victoria’s Metro Media Publishing.

KEY FACTS

* At 1210 AEDT on Monday, the benchmark S&P/ASX200 index was down 22.9 points, or 0.42 per cent, at 5,442.7 points.

* The broader All Ordinaries index was down 21.3 points, or 0.39 per cent, at 5,418.8 points.

* The March share price index futures contract was 20 points lower at 5,402 points, with 10,641 contracts traded.

* National turnover was 515 million securities worth $953 million.