The share market remains at its highest level since the GFC due to well received company earnings and a positive lead from Wall Street.
But it dipped slightly in late morning trade after the latest reading on manufacturing activity in China fell below expectations.
That erased some of the gains made in early trade, which took the market to its highest level since early 2008.
“With a decent lead from our US counterparts to lean on and a plethora of generally positive corporate earnings to digest, local participants have maintained their recent bullish bias,” CMC Markets sales trader Niall King said.
Of the companies to deliver earnings figures on Thursday, Origin Energy and AMP were the best performers on the market.
Origin Energy’s annual profit grew 40 per cent, and its shares were up 64 cents at $14.83.
AMP’s half year underlying profit rose 16 per cent and the financial services company delivered a higher dividend, sending its shares 20 cents higher to $5.72.
Super Retail Group was another stock to rise, after the owner of Super Cheap Auto and Rebel forecast sales growth in the second half of the current financial year.
Its shares had added 55 cents at $9.27.
The resources sector was impacted by the weaker Chinese manufacturing data, with BHP Billiton shedding most of its earlier gains to be up 13.5 cents at $38.265, Rio Tinto down five cents at $65.93 and Fortescue Metals half a cent weaker at $4.545.
The banks were all higher, with gains of between 0.55 per cent and 0.85 per cent.
Gambling firm Tatts was among the worst performers, dropping 19 cents to $3.43 after its profit and revenue dropped.
On Wall Street overnight, stocks rose on signs of improvement in the US economy.
KEY FACTS
* At 1217 AEST on Thursday, the benchmark S&P/ASX200 index was up 26.5 points, or 0.47 per cent, at 5,661.1 points.
* The broader All Ordinaries index was up 26.1 points, or 0.46 per cent, at 5,655.3 points.
* The September share price index futures contract was 17 points higher at 5,623 points, with 16,819 contracts traded.
* National turnover was 1.22 billion securities worth $3.08 billion.