The Australian share market is shrugging off a negative lead from overseas markets, with some strong support coming from retail and bank shares.
At 11:10am (AEDT) the All Ordinaries Index is up six points to 4,599 and the ASX 200 has gained seven points, to 4,590.
The major banks are all higher - Commonwealth Bank is leading the way, up 0.6 per cent, and ANZ has risen by 0.2 per cent.
Shares in Insurance Australia Group are down 1.7 per cent, after the firm announced the sale of its UK operations.
The company expects a $240 million net loss after tax from its UK operations, due to the sale, foreign currency effects and reduced diversification.
But investors are looking past another rise in the iron ore price overnight.
Mining shares are edging lower - Rio Tinto has slipped 0.2 per cent and BHP Billiton has lost a cent to $39.98.
Shares in Caltex are 3.9 per cent higher, after the company flagged a return to profit after last year's significant loss.
The Australian dollar is fighting back from earlier losses and is trading at around 105.3 US cents.