The XJO is currently up more than half a percent, with most sectors in positive territory.
The energy, healthcare, and materials sectors are the best performers, whilst the telcos are deep underwater due to a more than 3% drop in Telstra.
In company news, Bluescope reported a net loss of $118 million in FY11, versus an expected $93 million.
In the wake of the result the company has announced a restructuring plan which includes shutting down some operations and slashing its workforce.
The stock was down as much 9% at one point but is currently 4% weaker.
Around the region, Asian markets are generally stronger; the Hang Seng is up 0.5%, whilst the Nikkei is 0.2% stronger.