The Australian share market has continued to gain ground, supported by broad-based gains with all sectors trading in positive territory.
The benchmark S&P/ASX200 index was trading 23.7 points, or 0.41 per cent higher at 5,789.4 points at 1200 AEST.
Despite a mixed report from the mining giants, materials help push the index higher at noon, with the sector up 0.73 per cent overall.
Rio Tinto was down 1.75 per cent to $65.26 after going ex-dividend, while gold miner Newcrest was 3.03 per cent higher at $21.25 after a rise in the spot gold price.
The big four banks – Commonwealth, National Australia Bank, Westpac and ANZ – were trading between 0.23 per cent and 0.52 per cent higher with CBA leading the gains a day after posting a $9.9 billion full-year profit.
CBA shares were up 40.5 cents at $81.525.
Australian Stock Report chief market strategist Chris Conway said investors continued to shrug off concerns over US and North Korea’s exchange of threats, and instead were focusing on local stocks.
“At the moment, most of the action in our market is based on the reporting season as investors focus on domestic issues,” Mr Conway said.
AGL Energy shares were steady at $24.99, after the energy retailer swung to a full-year net profit of $539 million, from its previous year’s $408 million loss.
Virgin Australia helped lift the industrials sector higher.
It shares were up 5.71 per cent at 18.5 cents after the carrier posted a $220.3 million full-year loss saying a weak domestic market had weighed on improved cost management and improvements in the international business.
But financial services giant AMP fell 2.77 per cent to $5.26 after it said first-half statutory profit had slipped 15 per cent to $445 million, on the back of volatile market movements.
Meanwhile, the Australian currency has clawed back some of its recent loss against the greenback and was worth 79.01 US cents at noon, from 78.87 on Wednesday.
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