At 1015 AEST, the benchmark S&P/ASX200 was up 40.7 points, or 1.12 per cent, at 3660.2, while the broader All Ordinaries gained 37.9 points, or 1.06 per cent, to 3605.4.
Bank of Queensland has slashed its interim dividend as first half net profit fell by 25 per cent, although the bank said normalised cash net profit rose by 29 per cent to $84.2 million.
BoQ shares dropped by 20 cents, or 2.3 per cent, to $8.50.
Among other financials the big banks were all higher.
Westpac increased 28 cents to $20.29, NAB rose 18 cents to $22.22, ANZ gained 26 cents to $16.56 and Commonwealth Bank added 69 cents to $35.56.
The big miners were stronger. BHP Billiton was up 32 cents to $32.10 and rival Rio Tinto rose $1.18 to $53.99.
On Wall Street the Dow Jones Industrial Average rose 47.55 points, or 0.61 per cent, to settle at 7837.11 after it burst into positive territory just before the closing bell.
The tech-heavy Nasdaq composite climbed 29.05 points, 1.86 per cent, to settle at 1590.66 and the broad-market Standard & Poor's 500 index was up 9.61 points, 1.18 per cent, at 825.16.
On the Sydney Futures Exchange, the June share price index contract was trading 42 points higher at 3667 on volume of 4361 contracts.
Shares down after morning trade
