The Australian share market is one per cent higher, as gains by the banks eclipse losses by the miners.
After two days of losses, investors were in a buying mood, with all four big banks up more than one per cent.
Commonwealth Bank was the biggest winner, up almost two per cent, largely offsetting losses from global miner BHP Billiton, down 2.8 per cent.
Slater and Gordon shares plunged 29.72 per cent, despite the law firm trying to reassure investors that planned UK government changes to road traffic accident compensation claims will not have a major impact on its British operations.
Woolworths shares were down slightly ahead of its annual general meeting at AEDT 1300, while rival Wesfarmers was up 1.19 per cent.
KEY FACTS
* At 1202 AEDT, the benchmark S&P/ASX200 index was up 55.3 points, or 1.06 per cent, at 5,249 points.
* The broader All Ordinaries index was up 52.4 points, or one per cent, at 5,297.6 points.
* The December share price index futures contract was up 52 points at 5,257 points, with 16,404 contracts traded.
* At 1206 AEDT, national turnover was 733 million securities worth $1.41 billion.
