At 12.00pm (AEST), the benchmark S&P/ASX200 index was up 41.4 points, or 1.1 per cent, at 3797.1, while the broader All Ordinaries index had 38.6 points, or 1.03 per cent, to 3792.5.
Burrell Stockbroking adviser Daniel Manley said the market would finish the week fairly quietly.
"No one wants to take too many risks heading into the weekend,'' Mr Manley said.
"Across the board, everything seems to be doing well. There's nothing dragging it down.
"There are some slight gains, but nothing too dramatic.''
The major banks all were up in morning trade.
Commonwealth Bank put on 65 cents, or 1.91 per cent to $34.60, Westpac gained 25 cents to $18.69, NAB rose 40 cents to $22.03, while ANZ surged 39 cents, or 2.54 per cent to $15.77.
Resources were also higher.
BHP Billiton gained 68 cents to $34.70, while rival Rio Tinto added 51 cents to $64.50.
Among oil stocks, Oil Search was up 2.99 per cent at $5.51, Woodside rose 59 cents to $43.58, and Santos gained 12 cents to $14.51, as the price of crude oil enjoyed its highest close since November 4.
Gold stocks followed the trend.
Lihir Gold added 6 cents at $3.28, Newmont put on 19 cents to $5.97, while Newcrest added 48 cents to $32.84.
At 12.11pm, the spot price of gold was $US964.05 per fine ounce, up $US17.50 on yesterday's close of $US946.55.
Making news today, GUD Holdings, the owner of the Sunbeam brand, says it has bought 19.4 per cent of Breville shares for $18.1 million.
GUD shares rose seven cents to $6.07, while Breville shares put on 12.5 cents, or 17.36 per cent, at 84.5 cents.
The US government has placed a $US180 million ($A232 million) order with CSL for vaccine antigen to swine flu as part of its preparations to combat a flu pandemic. CSL shares gained four cents to $29.07.
Biota Holdings says the Federal Government has bought an extra 1.6 million courses of the influenza drug Relenza for the national stockpile for $43 million. Biota shares added 3.5 cents, or 2.55 per cent, to $1.41.
On the Sydney Futures Exchange, the June share price index contract was 63 points higher at 3799 on a volume of 12,644 contracts.
