The share market is slightly higher after recovering from a weak, commodities-driven start.
The retailers have led the gains with Woolworths adding more than three per cent off speculation that it will offload its underperforming Big W business, while Myer, Wesfarmers and JB Ji-Fi were also higher following encouraging Christmas spending forecasts.
However, resource and energy stocks remain under pressure with BHP Billiton, Rio Tinto, Santos and Newcrest Mining all down.
The banks were flat at noon with worst performer ANZ off by six cents or 0.22 per cent at $27.68.
KEY FACTS
* At 1203 AEDT, the benchmark S&P/ASX200 index was up 14.2 points, or 0.27 per cent, at 5,270.3 points.
* The broader All Ordinaries index was up 15.6 points, or 0.29 per cent, at 5,321.1 points.
* The December share price index futures contract was up 14 points at 5,278 points, with 10,718 contracts traded.
*At 1214 AEDT, national turnover was one billion securities worth $1.69 billion.
