News from AAP

Aussie market surges back up

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The Australian share market is higher at noon, having almost reversed yesterday’s steep slide.

A resurgence in energy and finance stocks has driven the indices higher, with Westpac the best of the big four lenders, lifting 2.35 per cent to $30.91.

Woodside Petroleum, Oil Search and Santos have bumped up more than a per cent off the back of higher oil prices, while BHP Billiton is up more than two per cent at $23.91.

KEY FACTS

* At 1203 AEST on Wednesday, the benchmark S&P/ASX200 index was up 73.3 points, or 1.46 per cent, at 5,091.7 points.

* The broader All Ordinaries index was up 70 points, or 1.39 per cent, at 5,116.6 points.

* The September share price index futures contract was up 87 points at 5,093 points, with 69,112 contracts traded.

* National turnover was 856 million securities worth $2.964 billion at 1238 AEST.