The Australian stock market is perceived to maintain its current bouyant status thugging within its comfort zone range between 4,200 to 4,300 with the absence of catalysts to bring forth a major boost, analysts said.

The continuing Greek debt debacle still casts a cloud of uncertainty over the markets that caused major trading platforms to post losses overnight.

According to IG Markets analyst Stan Shamu, in US trade, markets were little changed as investors tried to remain patient during the long, frustrating wait for a resolution in the Greek sovereign debt drama.

Among the major averages, the Dow Jones Industrial Average was up six points to close at 12884. The S&P climbed 0.2% to finish at 1350 and the NASDAQ added 0.4% to end at 2916. European equity markets were flat to slightly weaker.

"It seems that most asset classes are in a holding pattern at the moment. Many analysts feel this could be a key consolidation period before the next leg higher. Most assets attempted to rally, but could not hold on to early gains as investors chose to be cautious. Key commodity prices got off to a strong start after China's Central Bank pledged support for the Chinese property market, but gains were trimmed due to the frustrating wait for resolution in Athens," Shamu said.

Ahead of the open, analysts are calling the Aussie market relatively flat at 4293 and on the move to a slow but steady start.

Analysts said investors will be watching a key event driver on Thursday's Asian session could be China's CPI and PPI numbers due out at 12.30pm. Locally, there is no key economic data to look out for. However, there are some big earnings reports from Telstra, Newscorp and Rio Tinto. Newscorp announced second quarter results this morning, delivering an EPS of 39 cents, which beat analysts' expectations of 34 cents. Telstra's result is roughly in-line with expectations.

On Wedneday's closing the major movers include Gunns Ltd (ASX: GUNNS), Infigen (ASX:IFN), Goodman (ASX: GFF), Lynas Corp (ASX: LYC) and Nufarm (NUF).

Market

Price at 8:30am AEST

Change Since Australian Market Close

Percentage Change

AUD/USD

1.0798

-0.0002

-0.02%

ASX (cash)

4293

0

0.00%

US DOW (cash)

12875

-4

-0.03%

US S&P (cash)

1350.0

1

0.07%

UK FTSE (cash)

5900

18

0.31%

German DAX (cash)

6782

8

0.12%

Japan 225 (cash)

9003

-5

-0.06%

Rio Tinto Plc (London)

38.74

0.04

0.10%

BHP Billiton Plc (London)

21.30

-0.50

-2.29%

BHP Billiton Ltd. ADR (US) (AUD)

37.37

-0.38

-1.01%

US Light Crude Oil (Mar)

98.73

0.00

0.00%

Gold (spot)

1746.0

0

0.00%

Aluminium (London)

2254.00

-1

-0.04%

Copper (London)

8580.00

99

1.17%

Nickel (London)

21500.00

-300

-1.38%

Zinc (London)

2115.00

-5

-0.24%

RBA Cash Rate to be decreased by 25bp (Mar) (%)

59.00

0

0.00%

IG Markets provides round-the-clock CFD trading on currencies, indices and commodities. The levels quoted in this email are the latest tradeable price for each market. The net change for each market is referenced from the corresponding tradeable level at yesterday's close of the ASX. These levels are specifically tailored for the Australian trader and take into account the 24hr nature of global markets.

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