The share market is higher as miners, energy producers and banks enjoy gains.
Rio Tinto and BHP Billiton are higher after encouraging quarterly production reports earlier this week, while energy stocks benefitted from improvements in crude oil prices.
Traders are also optimistic the European Central Bank will vote on Thursday to buy about 50 billion euros ($A72 billion) worth of bonds a month for at least a year as a stimulus measure.
Afternoon trade is likely to be subdued ahead of that announcement, Quay Equities head of trading Tristan K’Nell said
“Given the strength of this morning and the events tonight, I think the afternoon session will see a little selling with investors not likely to be prepared to make too many big moves,” he said.
BHP was up 89.5 cents, or 3.2 per cent, at $28.945, Rio Tinto had added $1.27, or 2.3 per cent, to $56.36, while iron ore producer Fortescue Metals was down five cents at $2.27.
Oil and gas producer Woodside Petroleum was up $1.255, or 3.9 per cent, at $33.855, Santos had gained 18 cents to $7.51 and Oil Search was 21 cents higher at $7.51.
Among the banks, Commonwealth Bank had climbed 53 cents to $85.20, Westpac was up 41.5 cents at $33.795, National Australia Bank was 24 cents higher at $34.32 and ANZ was up 28 cents to $31.91.
Shares in packaging company Amcor were down 50 cents, or 3.9 per cent, at $12.38 after chief executive Ken Mackenzie announced his resignation, to be replaced by the company’s chief financial officer.
KEY FACTS
* At 1215 AEDT on Thursday, the benchmark S&P/ASX200 index was up 33.7 points, or 0.62 per cent, at 5,427.1 points.
* The broader All Ordinaries index was up 30.8 points, or 0.57 per cent, at 5,398.2 points.
* The March share price index futures contract was 34 points higher at 5,377 points, with 13,392 contracts traded.
* National turnover was 587 million securities worth $1.5 billion.
