Aust stocks hold gains at noon

Local market maintains early strength as optimism over US debt deal grows.

The Australian stock market maintained its gains at noon as optimism regarding a deal on the US debt ceiling grows.

At 1205 AEDT, the benchmark S&P/ASX200 index was 1% higher at 5,260.2 points, while the broader All Ordinaries index lifted 1.1% at 5,259 points.

Materials led the market higher, with the major miners both posting strong performances

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