Aust stocks gain at noon

Local market lifts after Wall St closes mostly stronger on US debt breakthrough.

The Australian stock market lifted at noon after mostly strong Wall Street leads on news of a deal to end the budget impasse in the United States.

At 1205 AEDT, the benchmark S&P/ASX200 index lifted 0.56% to 5,312.6 points, while the broader All Ordinaries index increased 0.57% to 5,311.8 points.

IG analyst Evan Lucas said with the debt ceiling deal concluded, the market has turned to taper talk.

"Macro watchers will be hanging on every word in the press about the possible direction the Fed will take come Wednesday," Mr Lucas said.

"However, it is very hard to see any change here."

In economic news, Reserve Bank of Australia Governor Glenn Stevens is scheduled to speak at an Australian British Chamber of Commerce business lunch in Sydney while the RBA's head of financial stability department, Luci Ellis, is slated to speak at Paul Woolley Centre for the Study of Capital Market Dysfunctionality Conference 2013, also in Sydney.

In equities news, Santos provided a third quarter activities report, while Sydney Airport is due to post its September traffic report.

Meanwhile, Qantas Airways has its annual general meeting.

In Australia, the market yesterday lifted after US politicians voted to raise the debt ceiling of the world's biggest economy and reopen the government.

The benchmark S&P/ASX200 index was up 20.2 points, or 0.38%, at 5,283.1.

The broader All Ordinaries index was up 17.5 points, or 0.33%, at 5,281.9.

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