Aust stocks increase gains at noon

Local market strengthens up to lunchtime after Wall Street rose overnight despite mixed earnings reports.

The Australian stock market increased gains to sit 0.5% higher at noon despite a series of mediocre US earnings reports limiting buying enthusiasm.

At 1205 AEST, the benchmark S&P/ASX200 index rose 0.5% to 5,026.8 points and the broader All Ordinaries index rose 0.52% to 5,014.6 points.

In Australia, the market yesterday closed at its highest levels in two months due to strong gains in the mining and energy sectors.

The S&P/ASX200 index closed above 5,000 points for the first time since May 23.

The benchmark S&P/ASX200 index was up 29.8 points, or 0.60%, at 5,001.9 points, while the broader All Ordinaries index was up 29.5 points, or 0.59%, to 4,988.9 points.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles