The share market is almost one per cent higher due to gains by the big four banks and several major resources companies.
ANZ has been the best performer in the financial sector with a gain of 1.8 per cent, while Westpac and National Australia Bank were more than one per cent higher and Commonwealth Bank was up 0.4 per cent.
Santos and Origin Energy were higher after a weaker US dollar helped support oil prices, and the fall in the greenback also benefited gold prices, giving gold miner Newcrest a boost of about four per cent.
Among the miners, Fortescue Metals had jumped about three per cent after the iron ore miner announced it will repay another $US577 million of 2019 debt, resulting in further cost savings.
Shares in medical device maker Resmed slid more than five per cent after its third-quarter income declined three per cent.
KEY FACTS:
* At 1200 AEST, the benchmark S&P/ASX200 index was up 45.5 points, or 0.87 per cent, at 5,266.1 points.
* The broader All Ordinaries index was up 44.1 points, or 0.83 per cent, at 5,327.7 points.
* The June share price index futures contract was up 52 points at 5,247 points, with 15,375 contracts traded.
* National turnover was 1.2 billion securities traded, worth $1.92 billion.
