The Australian share market has kicked off the week on a positive note, well up at noon, with healthy gains by the big miners.
The China port price of iron ore was up by 1.3 per cent to $US46.70, boosting the big miners.
BHP Billiton lifted more than two per cent, Rio Tinto was more than three per cent higher, and iron ore pure play Fortescue Metals gained more than seven per cent.
But while the price of Australia’s biggest export was higher, oil was down, with West Texas Intermediate selling 3.6 per cent lower at $US31.75 a barrel.
This reflected on the long suffering energy players, with Woodside Petroleum off by almost one per cent, and Santos down more than one per cent.
The big banks were mixed and Telstra was down by half a per cent.
KEY FACTS:
* At 1230 AEDT on Monday, the benchmark S&P/ASX200 index was up 43.8 points, or 0.88 per cent, at 4,996.6 points.
* The broader All Ordinaries index was up 43.1 points, or 0.86 per cent, at 5,051.5 points.
* The March share price index futures contract was up 39 points at 4,959 points, with 15,301 contracts traded.
* National turnover was 1.3 billion securities traded, worth $1.7 billion.
