The Australian sharemarket is half a per cent higher at noon after receiving a boost from unemployment data.
The local bourse extended its early gains after official figures were released at 1130 AEST showing Australia’s unemployment rate remained steady at 6.2 per cent in September.
Mining stocks climbed higher on the back of iron ore and copper price gains overnight.
Evolution Mining led the pack, up more than 10 per cent, while Fortescue Metals was 6.48 per cent stronger after releasing its latest quarterly production results and saying demand for its iron ore remains strong despite softening steel markets in China.
Heavyweights BHP Billiton and Rio Tinto were also higher.
Energy stocks were up across the board, with Woodside Petroleum up 1.39 per cent despite reporting lower third quarter sales following oil price slides.
Asciano was seven per cent lower after the ACCC raised concerns about Brookfield Infrastructure’s plans to takeover the transport company.
The big banks, sans Westpac, were mixed, with Commonwealth Bank and National Australia Bank up and ANZ down.
KEY FACTS
* At 1201 AEDT on Thursday, the benchmark S&P/ASX200 index was up 28.7 points, or 0.55 per cent, at 5,226 points.
* The broader All Ordinaries index was up 30.6 points, or 0.59 per cent, at 5,261 points.
* The December share price index futures contract was up 31 points at 5,206 points, with 15,170 contracts traded.
* National turnover was 837.9 million securities worth $1.6 million.
