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Market report: Energy, resource stocks lift morning trade


The Australian share market is higher, with energy and resource stocks dominating morning trade.

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The benchmark S&P/ASX200 index was up 0.77 per cent at 1200 AEST, with an overnight jump in oil prices helping the local market.

Oil Search, Origin Energy and Santos all performed strongly, lifting 1.78 per cent, 1.58 per cent and 1.49 per cent respectively, while Woodside Petroleum also rose 0.79 per cent.

Mining giant BHP Billiton was another standout performer, jumping 3.25 per cent, while rival Rio Tinto was up 0.84 per cent.

In the banking sector, three of the four big banks rose.

NAB lifted 0.83 per cent, Westpac jumped 0.42 per cent and Commonwealth Bank rose 0.4 per cent.

ANZ bucked the trend to slip 0.32 per cent by midday.

* At 1200 AEST, the benchmark S&P/ASX200 index was up 40.9 points, or 0.77 per cent, at 5383.7 points.

* The broader All Ordinaries index was up 41 points, or 0.76 per cent, at 5444.9 points.

* The June share price index futures contract was up 35 points at 5369 points, with 21,966 contracts traded.

* National turnover was 1.14 billion securities traded, worth $2.06 billion.


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