The Australian share market was higher at noon, with mining and resources stocks leading the way amid stronger commodities prices.
All Ordinaries index had risen 47 points, or 0.96 per cent, to 4,936.8 points.
Analyst said "It's a phenomenally positive day. We are seeing some exceptionally strong performances from a number of the resources-related stocks. It's just a reinforcement that the global recovery is happening,"
New home sales rose by just 0.3 per cent in November as a lack of available finance heavily affected the weak multi-unit sector, the Housing Industry Association (HIA) says.
The slight increase in new home sales was reflected by a 0.8 per cent lift in detached house sales offset by a 4.9 per cent decline in sales for the multi-unit sector, the survey of Australia's largest home builders shows.
Centro Properties Group(CNP) has appointed Robert Tsenin as the new group chief to replace Glenn Rufrano. Mr Tsenin, currently a non-executive director of the group, will become chief executive and managing director on March 1, subject to the finalisation of an employment agreement, Centro chairman Paul Cooper said in a statement. He will become chief executive designate on February 5 to ensure an orderly handover.
The Australian dollar climbed to its highest in over two years against the euro on Tuesday helped by firm commodity prices, equities and a soft U.S. dollar. Aussie strong on euro at 0.6335 AUDEUR=R after jumping 1.2 percent on Monday. It stretched as far as 0.6346 euros, a level last seen in November 2007. Next resistance level at 0.6360, then 0.6400.
* Aussie AUD=D4 also firm at $0.9134 after rising as far as a three-week high of $0.9164, up from Monday's $0.8983.
