The materials, IT and consumer discretionary sectors are the only ones in positive territory, whilst the telcos and consumer staples plays are the laggards.
In company news, Lynas is up approximately 4% after increasing resource estimates whilst LNC is up 11% on no news.
In economic news, consumer sentiment rose 2.4% in January, after plunging 8.3% in December.
The RBA’s two rate cuts late last year were acknowledged as having a big impact on the turnaround, although the number still fell short of analyst estimates.
Around the region, Asian markets are mainly stronger; the Hang Seng is up 0.3% whilst the Shanghai Composite is 0.5% firmer.