The Australian sharemarket is slightly higher after making early gains based on positive comments from the US central bank.
At 10.55am, the benchmark S&P/ASX200 index was up 11.9 points, or 0.2 per cent, at 4993.6 while the broader All Ordinaries index was up 12.2 points, or 0.2 per cent, at 4978.7.
RBS Morgan private client adviser Bill Bishop said Federal Reserve chairman Ben Bernanke's reassurances about the US central bank's tapering of stimulus measures had a moderate effect.
"The market likes to hear Ben Bernanke make soothing noises," he said.
"His comments soothed but did not really accelerate the market.
"The market has, basically, held itself together and is chugging along."
Mr Bishop said the morning's upswing had mixed results across the broader industrial market.
Woodside Petroleum shares were up one cent to $37.46 after the company announced sales revenue was down six per cent to $1.35 billion in the June quarter.
And Woolworths shares were down 61.5 cents at $33.08 after the company said it expects its full-year profits to increase by between five and six per cent but that its home improvement division had made a bigger-than-expected loss.
In the resources sector, BHP Billiton shares were down 17 cents to $34.02, while Rio Tinto was up 39 cents at $56.54.
Fortescue Metals gained 5.5 cent at $1.48.
"It's good to see a little bit of a spark in the major resources companies," Mr Bishop said.
"But the resources are not quite as bright as they were yesterday."
Meanwhile, the big four banks performed well, with the Commonwealth Bank up 29 cents to $71.50, ANZ 10 cents higher at $28.90, NAB gaining 27.5 cents to $30.31, and Westpac lifting 14 cents to $29.54."The banks are holding together pretty nicely," Mr Bishop said.