Australian stocks weaken despite offshore leads: Afternoon market insights

The Australian sharemarket weakened for the third straight day, despite positive offshore leads.

The ASX200 was down 0.65% to 40292, while the broader All Ordinaries Index was 0.60% lower to 4081.2.

The financial and resource sectors lost ground, with the exception of the gold miners. David Jones bucked the trend to add 3.18% to $2.27.

In the United States, the Dow Jones Industrial Average rose 0.3% or 33.6 points to 12,529.8 overnight.