THE share market was higher at noon, as investors were buoyed by a proposed bailout for Ireland.
At midday (AEDT) the benchmark S&P/ASX200 index was up 28.7 points, or 0.62 per cent, at 4657.9, while the broader All Ordinaries index had risen 27.5 points, or 0.58 per cent, at 4745.2.
On the ASX 24, the December share price index futures contract was 23 points higher at 4672 points, with 12,746 contracts traded.
Around three companies were higher on the S&P/ASX50 for every stock decline at noon.
IG Markets dealer Chris Weston said the local market outperformed the lead from Wall Street after the Irish government accepted a bailout this morning (AEDT).
A massive international bailout for debt-ravaged Ireland would reach between 80 and 90 billion euros ($125.3 billion), two diplomatic sources have said.
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Capital markets have feared the possibility of the Irish Government defaulting on its sovereign debt.
"There seems to be a flow from Ireland accepting the bailout funds and (they) seem to be getting a few more intricacies on the deal," Mr Weston said today.
"A bit of a positive flow from that, but we have seen the market pull back a bit from the highs of the day."
"Developments in Ireland have certainly caused a bit of risk appetite in our market today."
The miners led the charge on the local index.
BHP Billiton was up 37 cents at $43.98 and Rio Tinto added 70c to $85.00.
Fortescue was up 8c higher at $6.78.
On Friday night (AEDT), Wall Street finished higher with the Dow Jones Industrial Average climbing 0.2 per cent, while the broad-market S&P500 advanced 0.25 per cent and the NASDAQ ended up 0.15 per cent.
The major banks were higher by 12.07pm.
ANZ Banking Group was the strongest performer of the big banks, up 30c to 1.33 per cent at 22.79.
Commonwealth was up 17c at 48.98, National Australia Bank was 19c higher at 24.26 and Westpac was up 15c to $21.77.
The spot price of gold in Sydney was $US1357.30 per troy ounce at 12.09pm, up $US2.00 from Friday's local close of $US1355.30.
Newcrest Mining was down 36c at $39.78.
The energy players were mixed.
Woodside Petroleum was up 41c, or 1 per cent, at $41.42, while Santos was down 3c at $12.66 and Oil Search was down 7c at $6.55.
Rail and freight operator QR National has made a flat debut on the Australian Securities Exchange.
QR National opened at $2.54 a share, below the initial public offering price of $2.55 a share for institutional investors, but higher than the $2.45 a share price for retail investors.
By 12.14pm, the rail freight company was trading at $2.60.
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