Aust stocks lift at noon

Local market gains as banks recover, Yellen's comments buoy investors.

The Australian stock market has gained ground at noon as major banks recovered somewhat from yesterday's sell-off and likely new US Federal Reserve head Janet Yellen hinted stimulus is set to continue.

At 1205 AEDT, the benchmark S&P/ASX200 index increased 0.85% to 5,364.2 points, while the broader All Ordinaries index rose 0.8% to 5,360.1 points.

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