STRONG economic data from China boosted resources stocks on the Australian share market, which was firmly higher at noon.
The major banks were stronger at 12.14pm.
National Australia Bank was up 57c, or 2.31 per cent, at $25.24, Commonwealth Bank had put on 83c, or 1.58 per cent, to $53.50, Westpac had added 45c, or 1.96 per cent, to $23.39 and ANZ had found 38c, or 1.6 per cent, to $24.09.
At 12.15pm, spot gold was trading in Sydney at $US1245.70 per find ounce, down $US2 on Friday's closing price of $US1247.70 per fine ounce.
At 12.16pm, major gold miner Newcrest was down 59c or 1.52 per cent, at $38.25, while OceanaGold had gained 5c to $3.74 and Kingsgate Consolidated had firmed 31c, or 2.88 per cent, to $11.07.
Making headlines today, Leighton Holdings subsidiary John Holland Group landed a $276 million deal for a new port in Western Australia.
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Shares in Leighton were up 70c, or 2.1 per cent, at $34.07 at 12.17pm.
MetroCoal's $30 million joint venture with a Chinese state-owned company is on track, with authorities in the Asian nation giving the project the green light.
Shares in MetroCoal had inched one cent higher to 37c by 12.17pm.
Minerals tester Ammtec has entered a trading halt pending an announcement regarding a "potential development" on its takeover bid by Campbell Brothers.
Before entering the trading halt, shares in Ammtec were steady at $3.83. Campbell Brothers shares were down 16c at $31.84 at 12.18pm.At noon (AEST), the benchmark S&P/ASX200 index was up 50.6 points, or 1.11 per cent, at 4610.9 points, while the broader All Ordinaries index had risen 47.5 points, or 1.03 per cent, to 4648.2 points.
On the Sydney Futures Exchange, the September share price index contract was 51 points higher at 4616 on a volume of 38,123 contracts.
CommSec market analyst Juliette Saly said the trading week had started very positively, with the local bourse boosted by strong economic data from China on Saturday.
Consumer inflation in China rose at the fastest pace in nearly two years in August, but its National Bureau of Statistics showed the Asian superpower remained robust that month, suggesting its economy was not slowing as fast as many had feared.
"We're seeing really good gains, not surprisingly, from the mining stocks on the back of that Chinese data and the Australian dollar has risen to 93 US cents, a five-month high," Ms Saly said.
Among the major miners at 12.02pm, BHP Billiton was up 57c, or 1.5 per cent, at $38.53, while Rio Tinto had gained 99c, or 1.33 per cent, to $75.24.
The crude oil price jumped to the highest level in five weeks on Friday in response to supply concerns, sending energy shares higher.
Santos was up 26c, or 2.13 per cent, at $12.45 at 12.03pm, Oil Search had risen 21c, or 3.55 per cent, to $6.12, and Woodside Petroleum had lifted 40c to $42.93.
Report shows what to expect in consumer recoveryChina, US data gives shares a boost
