News from AAP

Market higher by a per cent at noon

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The share market is buoyant at noon, bouncing one per cent higher as it shakes off muted Chinese fears.

Resource heavyweights were strong, with BHP Billiton climbing 59 cents to $26.33 and Rio Tinto up 64 cents at $51.92.

All the big banks were up, with NAB climbing 51 cents to $34.37 following its successful offloading of it last remaining stake in former US subsidiary Great Western Bancorp.

Qantas was also up nine cents after its rival Virgin Airlines posted a full year net loss of $94 million.

KEY FACTS

* At 1203 AEST, the benchmark S&P/ASX200 index was up 55.3 points, or 0.99 per cent, at 5640 points.

* The broader All Ordinaries index was up 53.4 points, or 0.96 per cent, at 5,624.4 points.

* The September share price index futures contract was 42 points higher at 5584 points, with 13,282 contracts traded.

* At 1221 AEST national turnover was 853.9 million securities worth $2.0 billion.