The major banks were mixed. ANZ had fallen 12 cents to $22.27 and CBA was down 12 cents at $49.68, but NAB was 27 cents higher at $24.31 and Westpac had risen two cents to $22.22.
Investment bank Macquarie Group was down 23 cents at $39.42.
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In other news on Monday, Mirrabooka Investments said equity valuations had returned to attractive buying levels as the company reported a 31 per cent rise in full-year net profit and launched a share purchase plan.
Mirrabooka was down three cents at $1.72.
Ms Spencer said market players were looking ahead to the upcoming profit results, both locally and offshore in the US, for direction.
"We are likely to see just a bit of a lack of conviction just until we get more confirmation of how corporate Australia and the US corporates have fared in the last quarter and the last half," Ms Spencer said.
US reporting season begins overnight on Monday, while profit season in Australia is August.
At 1232 AEST, the most traded stock by volume was Empire Oil and Gas, with 39.59 million securities traded for $395,741.
Empire was up one-tenth of a cent at one cent.
On Monday, the company announced production test results from its Gingin West facility in Western Australia.
Market turnover at 1232 AEST was 786.67 million securities traded worth $1.43 billion, with 490 stocks up, 320 down and 287 unchanged.
