The Australian share market was higher at noon led by the big miners and a positive lead from the US market.
At 1200 AEST, the benchmark S&P/ASX200 index was up 28.6 points, or 0.74 per cent, at 3,902.6 points
The broader All Ordinaries index rose 26.6 points, or 0.69 per cent, to 3,898.9 points.
On the Sydney Futures Exchange, the September share price index contract was 12 points higher at 3,873 on a volume of 10,252 contracts.
"The market is pausing to refresh today, which is good to see," ABN Amro Morgans private client adviser Bill Bishop said.
"Wall Street was positive overnight, the banks are mixed and the resources, BHP and Rio, are up because of news about the (Rio) rights issue."
Rio Tinto added 78 cents, or 1.51 per cent, to $52.38 after its largest shareholder, Aluminum Corporation of China (Chinalco), said it had taken part fully in a $US15.2 billion rights issue from the Anglo-Australian miner.
Its rival, BHP Billiton, was up 61 cents, or 1.8 per cent, at $34.51.
Commonwealth Bank was down eight cents at $38.01, ANZ rose 12 cents to $16.37, National Australia Bank lifted 17 cents, to $21.86, and Westpac was two cents lower at $19.66.
Making headlines this Thursday, Westpac has scrapped its retail shareholder benefits package, due to increasing administration costs and low take-up of the benefits offered.
Private health care fund NIB Holdings Ltd says policyholders number grew by more than expected in 2008/09, and that it expect economic conditions will remain difficult in the new financial year.
Its shares were 3.5 cents, or 3.95 per cent higher at 92 cents.
Walnut and vegetable producer Webster Ltd has appointed David West as its chief executive, commencing August 3.
But its stock sank 3.5 cents, or 5.83 per cent, to 56.5 cents.
At 1214 AEST, Woodside had lifted 21 cents to $42.66, Santos was up eleven cents at $14.54, but Oil Search had lost three cents to $5.49.
At 1215 AEST, the spot price of gold in Sydney was $US939 per fine ounce, up $US7.10 on Wednesday's close of $US931.90.
Among the gold miners, Newcrest was up 90 cents or 2.97 per cent at $31.18, Lihir Gold had added eight cents to $3.01 and Newmont rose ten cents to $5.15.
Retail stocks were mixed. Wesfarmers was up 29 cents at $22.54, Woolworths was seven cents lower at $26.09, Harvey Norman fell four cents to $3.20 and upmarket department store David Jones was steady at $4.45.
Telstra shares were three cents higher at $3.38 while rival Singapore Telecommunications had gained one cent at $2.57.
At 1224 AEST, the top-traded stock by volume was Lakes Oil NL, with 317.95 million shares worth $3.9 million changing hands.
Its shares were up 0.4 cents, or 50 per cent, at 1.2 cents.
Overall turnover was 1.12 billion shares worth $1.59 billion, with 482 stocks up, 304 down and 258 unchanged.
