Resources push market higher

The Australian share market is up, with mining stocks among the top performers.

Most sectors are up, with three of the best performing sectors being energy, health and consumer staples, IG markets analyst Chris Weston said.

"There's a broad base lift across the market but as for risk taking, three of the five best performing sectors are defensive stocks," he said.

"But it appears the bullish contingent of the market is firmly in control and we're seeing a lot of this in the Asian equity markets, including in China.

"It seems there's a bit of money flowing perhaps out of western markets and into this area (Asia) and Australia is benefiting from that."

The resource stocks are outperforming the financials, with Rio Tinto adding 59 cents to $66.34, BHP gaining 13.5 cents to $39.195 and Fortescue Metals advancing 16.5 cents to $5.025.

The big four banks had begun Wednesday mostly down but are now in the green, with ANZ lifting 15 cents to $33.84, NAB adding 11.5 cents to $35.225, Westpac 10 cents higher at $34.37 and Commonwealth Bank putting on 66 cents to $83.01.

Mortgage insurer Genworth has risen 14 cents to $3.41 after flagging a full year profit of up to $250 million.

Meanwhile, fashion retailer Noni B has fallen two cents, or 4.26 per cent, to 45 cents after warning weak market conditions means it will post a loss at the higher end of its previously advised $1.8 to $2.2 million spectrum.

KEY FACTS

• On Wednesday at 1200 AEST, the benchmark S&P/ASX200 index was up 35.1 points, or 0.63 per cent, at 5,623.5 points.

• The broader All Ordinaries index was up 35.2 points, or 0.63 per cent, at 5,615.8 points.

• The September share price index futures contract was 37 points higher at 5,576, with 13,955 contracts traded.

• National turnover was 669.5 million shares worth $1.4 billion.