Aust shares higher at noon

The Australian market is higher at noon after a mixed performance by the big banks and resources companies.

It came after US stocks finished slightly lower after a quiet day of trade.

"The Australian share market has opened the morning session marginally higher but lacking conviction as a flat Wall Street lead and a lack of significant economic data having an effect on trade this morning," Quay Equities market analyst Tristan K'nell said in a statement.

Global miner BHP Billiton lifted 43 cents to $31.43, but Rio Tinto lost 48 cents to $57.73, while Fortescue Metals rose four cents to $2.02.

Woodside Petroleum gained two cents to $35.54 and Santos also rose 10 cents to $7.39.

Among the major banks, Commonwealth Bank fell 28 cents to $95.19, while Westpac added two cents to $39.58. National Australia Bank shed 34 cents at $38.94 and ANZ lost seven cents to $36.73.

In other news, TPG Telecom jumped 21 cents, or 2.4 per cent, to $9.04 after it lifted its earnings guidance and posted an 18 per cent jump in interim net profit.

Kathmandu plunged 15.5 cents, or 9.9 per cent, to $1.45 after the outdoor equipment retailer swung to a first half net loss of $1.75 million amid weak discretionary spending.

And New Hope Coal was three cents higher at $2.51 after the Queensland resources group slumped to a $23.1 million first half net loss due to write-downs of its oil and gas assets.


* At 1230 AEDT on Tuesday, the benchmark S&P/ASX200 index was up 17 points, or 0.29 per cent, at 5,973 points.

* The broader All Ordinaries index was up 17.3 points, or 0.29 per cent, at 5,938.3 points.

* The June share price index futures contract was up 17 points at 5,973 points, with 10,428 contracts traded.

* National turnover was 898.7 million securities worth $1.8 billion.

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