The domestic share market was riding high at noon on the back of a gold rush and positive global reaction to Tuesday's rise in Australia's cash interest rate.
All Ordinaries rose 65 points, or 1.41 per cent, to 4662.2.
The ABS has released data showing a 0.6 per cent fall in Australian housing finance for August.
Global miner BHP Billiton Ltd (BHP) has experienced a mechanical failure at its Olympic Dam mine in South Australia which has consequently shut-down an automated ore haulage system. According to a report in the Australian industry sources say the accident could disrupt the mine's operations for several months. BHP is expected to make an announcement regarding the incident sometime today. BHP shares rose 2.18 per cent to $37.45.
The best performing sector at midday is the Materials index which gained 306 points to 11,262. Shares in Independence Group advanced 7.96 per cent to $4.61. Shares in Sino Gold Mining and Newcrest Mining are also higher at midday.
One of the only sectors in the red at midday is the Health Care index, down 4 points at 8,550.
Gold is trading at $1039.95 US an ounce and the Aussie dollar is trading at 88.88 US cents.
8 October Australia foreign reserves, Sep Australia Labour Force, Sep China Markets Closed EU ECB Rate Decision Japan Current Account, Aug Japan Trade Balance, Aug UK BoE Rate Decision US 30-year Bond Auction US chain store sales, Sep US Fed balance sheet US weekly jobless claims US wholesale inventories, Aug
AEC Annual General Meeting MLT Annual General Meeting (02:00 PM) ORL Ex-Div. 25c
