Aust stocks higher at noon

Local market reverses modest early losses, led by surges in the major miners.

The Australian stock market reversed minor early losses to sit almost 0.6% higher at noon, led by a surge in the major iron ore miners.  

At 1205 AEST, the benchmark S&P/ASX200 index rose 0.59% to 5,085.2 points, while the broader All Ordinaries index added 0.6% to 5,069.2 points.

IG analyst Evan Lucas said company earnings would affect the market this week, as reporting season starts in earnest.

"With local macro data now out of the way – having seen the prints from the RBA, retail sales, Australia’s trade balance and the employment change inside five days last week – this week is all about corporate earnings," Mr Lucas said.

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