RISING resources and banking stocks have pushed the share market higher at noon, with the broader index again pushing through the 5000 point barrier.
At 12pm (AEST) the benchmark S&P/ASX200 index was up 26.6 points, or 0.54 per cent, at 4978.2 points, while the broader All Ordinaries index had risen 25.1 points, or 0.5 per cent, at 5003.5 points.
On the Sydney Futures Exchange, the June share price index contract was 28 points higher at 4992 on volume of 8698 contracts.
A senior dealer with Shaw Stockbroking, Jamie Spiteri, said some sectors which had been sold off today had rebounded.
"The resources sector has traded a bit better today and the banks and financials, which were solid yesterday, have remained on a steady path, as well," Mr Spiteri said.
After breaching the 5000 point barrier on Monday, then declining today, Mr Spiteri said the latest move above that figure would grab the attention of investors.
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"It is a bit of a psychological barrier," he said.
"The market is probably likely to grind through this period and possibly be impacted by the recent trend of corporate activity."
Atnoon (AEST), the big banks all were stronger, with ANZ up 28 cents at $25.70, Commonwealth Bank up 62 cents at $58.71, National Australia Bank 29 cents stronger at $27.84, Westpac gaining 22 cents to $27.97, and Macquarie rising 48 cents to $50.48.
Macquarie Group today said it had agreed to acquire 53 aircraft for $US1.987 ($2.14) billion from International Lease Finance Corporation.
The big miners were stronger at 12.04pm (AEST), with BHP Billiton rising 13 cents to $43.97 and Rio Tinto up 53 cents at $80.03.
Among the gold miners, Lihir Gold was steady at $3.92 while Newcrest had lost 13 cents at $34.28.
At 12.05pm (AEST), the local spot price of gold was $US1153.00 per fine ounce, down $US2.10 on yesterday's closing price of $US1155.10.
Energy stocks were mixed at 12.07pm (AEST), with Woodside up 17 cents at $47.17 but rival Oil Search pulling back two cents to $5.88.
Gas giant Santos had risen 17 cents at $14.81 while Origin Energy was up three cents at $16.78.
At 12.10pm (AEST), shares in Transurban Group were three cents higher, at $5.15, after it said all of its Australian assets increased traffic and revenue for the March quarter 2010.
Telstra released a statement to the market to quash rumours that negotiations over its involvement in the national broadband network were over. At 12.10pm (AEST), shares in the telco were down three cents at $3.16.
Media stocks rose in morning trade, News Corp lifting 59 cents by 12.12pm (AEST) to $19.54 and the company's non-voting scrip gaining 75 cents to $16.82.
Fairfax Media was up 1.5 cents at $1.79 while Consolidated Media had gained two cents at $3.15.
At 12.14pm (AEST), major retailers were mixed, with Coles owner Wesfarmers up 17 cents at $32.45 but rival Woolworths down 22 cents at $27.55.
Myer had gained two cents at $3.24 while David Jones rose four cents to $4.61. Harvey Norman was two cents stronger at $3.60.
The top-traded stock by volume was Empire Oil and Gas, with 253.52 million shares worth $3.74 million changing hands.
At 12.20pm (AEST), Empire shares were steady at 1.4 cents.
Market turnover was 1.89 billion shares worth $2.26 billion, with 544 stocks up, 382 down and 358 unchanged.
Dow builds on its gainsShare market reaches 18-month high
