Local shares edged higher in early trading, after Wall Street hit a five-year closing high last Friday and commodity prices strengthened.
The All Ordinaries index was up just 6 points to 4,801 shortly before 11:00am (AEDT), and the ASX 200 was just over 0.1 per cent higher at 4,776.
Shares in NAB had jumped 1.75 per cent to $26.81, after reports of a Spanish bid for the bank's troubled UK business.
By contrast, Commonwealth Bank shares were down almost 1 per cent and Westpac was 0.2 per cent lower.
Rio Tinto was up 11 cents to $66.46, but BHP Billiton had fallen 3 cents to $36.47.
Department store operator Myer was up 1.5 per cent.
The Australian dollar has been swinging between marginal gains and losses, and was buying 105.04 US cents.
