Shrugging off a weak lead from the U.S. overnight, the local share market is higher at midday, falls in mining stocks offset by gains in the banks like NAB and the Commonwealth Bank.
The S&P/ASX200 index is up 21 points at 4,163 and on the futures market the SPI 200¡¯s up 30 points.
In economic news: The ABS says building approvals rose 9.3 per cent in June compared to the month before.
market indices: the best performing sector at midday, is the Telco Services index up 25 points to 1,247. Shares in Telstra up 2.27 per cent at $3.61. Shares in Macquarie Telecom Group and Telecom of New Zealand are also stronger at noon.
The worst performer at midday is the Materials index, down 90 points at 10,814. Shares in Equinox Minerals down 5.19 per cent to $2.74. Shares in Anvil Mining and Sandfire Resources are also lower at noon.
