Aust stocks extend gains at noon

Local market pushes toward three-quarters of a per cent higher midway through session.

The Australian stock market extended its early gains at noon, shrugging off weak leads from Wall Street on disappointing consumer spending news.

At 1205 AEST, the benchmark S&P/ASX200 index gained 0.69% to 5,170.6 points, while the broader All Ordinaries index added 0.7% to 5,161.4 points.

In economic news, the Australian Bureau of Statistics released building approvals data for July, which beat analysts' expectations with a jump of more than 10%.

The TD Securities-Melbourne Institute inflation gauge for August showed rate of inflation slowed to a crawl in the month.

The Australian Industry Group performance of manufacturing (PMI) index was released, showing a slight lift in August.

Elsewhere, the RP Data-Rismark Home Value Index for August showed capital city home prices had increased five% in the past year.

In Australia, the market on Friday ended higher as investor caution prompted by possible military action against Syria eased.

The benchmark S&P/ASX200 index gained 42.6 points, or 0.84%, to 5,135 points.

The broader All Ordinaries index added 42.2 points, or 0.83%, to 5,125.3.