Investors have been buoyed by a positive session on Wall Street and a lift in oil prices.
All four major lenders were higher at noon (AEST), while Bank of Queensland had recovered from an initial slump to be three cents higher, after delivering an improved half year profit and lifting its variable home loan interest rates.
Telstra was one of the few major stocks to be weaker, down seven cents at $5.15.
KEY FACTS:
* At 1201 AEST, the benchmark S&P/ASX200 index was up 27.9 points, or 0.56 per cent, at 4,973.8 points.
* The broader All Ordinaries index was up 27.1 points, or 0.54 per cent, at 5,051.7 points.
* The June share price index futures contract was up 23 points at 4,958 points, with 14,780 contracts traded.
* National turnover was 821 million securities traded, worth $1.2 billion.
AAP
