The share market has hit new six-year highs as it follows strong leads from Wall Street and Europe.
The S&P 500 hit a record high in the US and London and Frankfurt also rose on fresh signs of strength in the US economy.
Lonsec senior client adviser Michael Heffernan said the local market had following the trend, putting it on track for a seventh straight day of gains.
“We’re well on the way to 5,700 points,” Mr Heffernan said.
“The overseas markets were pretty strong, so when you’ve got that happening it’s going to be a good day.”
Gas giant Santos was one of the best performers, gaining 51 cents, or 3.5 per cent, to $15.10 after lifting its half year dividend.
But the mining sector was lower, with BHP down 21.5 cents at $37.815, Rio Tinto down 19 cents at $65.41 and Fortescue Metals 7.5 cents weaker at $4.405.
Offsetting that weakness was the banking sector, with ANZ up 20.5 cents at $33.415, NAB up 15.5 cents at $34.515, Commonwealth Bank up 44 cents at $80.71 and Westpac 16.5 cents higher at $35.105.
Crown Resorts was up 27 cents at $16.25 after striking a deal with the Victorian government to pay less tax on VIP gaming, increase its table games and poker machines, and extend its Melbourne casino licence.
Rival Echo Entertainment was down 11 cents at $3.12.
Traders will be monitoring a speech by US Federal Reserve chair Janet Yellen on Friday night, but Mr Heffernan said the address was unlikely to contain any surprises.
“They’re watching the market pretty carefully but they’re not in any rush to increase interest rates and I think that’s what Yellen is going to say,” he said.
KEY FACTS
* At 1200 AEST on Friday, the benchmark S&P/ASX200 index was up 17.4 points, or 0.31 per cent, at 5,656.3 points.
* The broader All Ordinaries index was up 16.3 points, or 0.29 per cent, at 5,650.3 points.
* The September share price index futures contract was 14 points higher at 5,619 points, with 8687 contracts traded.
* National turnover was 850 million securities worth $2 billion.
