The gains aren’t as hefty as might have been expected however, given the strong lead provided by Wall Street overnight.
Most sectors are stronger, with IT, consumer staples, and utilities all faring well.
In company news, Sims Metal groups announced a 1H FY12 loss of $556.5 million, down sharply from a $49 million profit a year earlier.
Elsewhere, Santos’ full year 2011 underlying net profit was up 20% at $453 million, slightly missing analyst expectations.
Around the region, Asian markets are all trading higher; the Hang Seng is up 1.2% whilst the Nikkei is 1.7%, putting into perspective just how modest the local market’s gains are.