News from AAP

Market higher on lift in ore price

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The share market is higher at noon, as the big miners enjoy a much needed lift in the iron ore price.

China port iron ore was up by $2 to $US52 a tonne over night, with BHP Billiton shares responding by gaining 67 cents or 2.59 per cent, to $26.56.

Rio Tinto was also higher, increasing by $1.36, or 2.6 per cent to $53.14, while iron ore pure play Fortescue Metals gained three cents, or 1.6 per cent, to $1.91.

The big banks were all up.

KEY FACTS

* At 1200 AEST, the benchmark S&P/ASX200 index was up 38.0 points, or 0.68 per cent, at 5662.2 points.

* The broader All Ordinaries index was up 36.7 points, or 0.65 per cent, at 5,646.3 points.

* The September share price index futures contract was 30 points higher at 5603 points, with 11,640 contracts traded.

* At 1205 AEST national turnover was 787.5 million securities worth $1.6 billion.