Australian consumers have been saving and not spending in recent years, which is probably a good thing for the economy, the central bank governor says.

BHP Billiton has received approval from the US competition regulator for its $US15.1 billion friendly takeover of shale gas company Petrohawk Energy.

Australian stocks were higher at noon, despite the US government being no closer to breaking its debt-ceiling stalemate.

Stocks of interest on the Australian Securities Exchange on Tuesday.

The Washington deadlock over raising the US debt ceiling sent stocks tumbling on Monday, as the August 2 date to avoid a government debt default grew closer

Australian stocks rebounded on Tuesday, retracing ground lost yesterday due to panic selling caused by unresolved debt issues in the United States.