Aust stocks higher at lunch

Local market extends early gains at noon after gains on Wall St overnight.

The Australian stock market extended its early gains at noon, following gains on Wall Street despite a three-hour shutdown of the Nasdaq market.

At 1205 AEST, the benchmark S&P/ASX200 index rose 1.18 per cent to 5,135.7 points, while the broader All Ordinaries index lifted 1.18% to 5,126.6 points.

No major economic news is expected.

In Australia, the market fell yesterday as local investors followed offshore leads and sold riskier stocks, including those in resources companies.

The the benchmark S&P/ASX200 index was 24.3 points, or 0.48%, lower at 5,075.7.

The broader All Ordinaries index was down 23.6 points, or 0.46%, at 5,066.7.

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