THE share market was mildly higher at noon on gains in the materials sector and losses among the major banks.
At 12pm AEDT, the benchmark S&P/ASX200 index was up 4.3 points, or 0.09 per cent, at 4558.6, while the broader All Ordinaries index had gained 8.3 points, or 0.18 per cent, at 4584.1.
IG Markets research analyst Ben Potter said the market had dropped sharply since today's opening.
"There's a good chance we could close down today after some profit-taking before the weekend," Mr Potter said.
"The financials are the main worry with most of the major banks trading down, while the materials sector is the best performing sector."
Mining giant BHP Billiton was up 50 cents, or 1.24 per cent, at $40.85, while Rio Tinto had advanced $2.18, or 3.13 per cent, at $71.90 after releasing better than expected annual earnings figures on Thursday.
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Among the major banks, ANZ fell 22 cents to $20.53, CBA was down three cents at $52.97, NAB was 29 cents lower at $24.39 and Westpac had lost 28 cents at $22.69.
Banks lead market higherRegions loses $606 million, says loan problems are easing
