After a sluggish start, the local share market is trading higher, pushing stocks beyond yesterday's 21-month high.
The All Ordinaries Index was 9 points higher at 4,920, and the ASX 200 index has gained 8 points to 4,897 around 11:00am (AEDT).
The major miners are driving today's gains, with BHP Billiton up 0.9 per cent, Rio Tinto up 1.2 per cent and Fortescue 1.3 per cent higher at $4.75.
More defensive stocks, such as Telstra, have gone backwards, with the nation's biggest telco losing 0.6 per cent.
Wesfarmers shares have fallen 1.8 per cent, despite the company reporting sales growth for its key Coles and Bunnings brands during the December quarter.
However, major rival Woolworths was also down 0.8 per cent to $31.62.
Most discretionary retailers are higher, with Harvey Norman up 1.3 per cent, JB Hi-Fi up 1 per cent and David Jones 1 cent higher at $2.55.
However, Myer has given up some of its recent gains, falling 2 cents to $2.60.
The Australian dollar was buying around 104.66 US cents.