Aust stocks rise at noon

Local market pares early gains but holds above key 5000 level.

The Australian stock market pared earlier gains but remained higher at noon, shrugging off a lacklustre performance last week that saw the market limp to a weekly loss of 0.04%.

At 1205 AEST, the benchmark S&P/ASX200 index rose 0.67% to 5,005.3 points and the broader All Ordinaries index gained 0.65% to 4,991.4 points.

The local market had increased more than 1% in mid-morning trade.

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