Aust stocks higher at noon

Local market slightly higher after a Wall St rally as Microsoft boss flags retirement.

The Australian stock market was slightly higher at noon following gains on Wall Street as Microsoft announced chief executive Steve Ballmer will retire in the next 12 months.

The United States Commerce Department's unwelcome US new-home sales report for July - sales plunged 13.4% month-on-month - also proved a catalyst for the rally.

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