The share market has maintained its solid start to trading, driven partly by ANZ’s strong profit growth.

Lonsec senior client adviser Michael Heffernan said the fact the market’s main indices had passed 5,500 points was encouraging.

It is the market’s highest point since mid-September.

“You had the US doing pretty well with the GDP figures yesterday, you’ve got the European Central Bank now embarking on the more fully fledged QE, and you’ve had the ANZ Bank putting out its report today,” Mr Heffernan said.

“So you’ve had a trifecta of positive things there.”

ANZ was five cents higher at $33.31 after its annual cash profit grew 10 per cent to $7.1 billion.

National Australia Bank was up 28 cents at $34.92, Commonwealth Bank had gained three cents to $80.20 and Westpac was 12 cents higher at $34.58.

Macquarie Group jumped $1.62 to $61.47 after its half year profit rose 35 per cent to $678 million.

In the resources sector, BHP Billiton had added 20 cents to $33.75, Rio Tinto was up 64 cents at $59.94 and Fortescue Metals had picked up four cents at $3.48.

Gold miner Newcrest was down 38 cents at $9.38 as it said it is considering changing its executive pay structure in response to criticism over what some see as the company’s generous salary packages.

Casino operator Echo Entertainment had gained five cents to $3.81 as it reassured shareholders its presence in Queensland won’t be hurt even if it were to lose its bid for a new casino licence in Brisbane.

KEY FACTS

* At 1208 AEDT on Friday, the benchmark S&P/ASX200 index was up 38 points, or 0.69 per cent, at 5,514.2 points.

* The broader All Ordinaries index was up 37.3 points, or 0.68 per cent, at 5,494.4 points.

* The December share price index futures contract was up 38 points at 5,496 points, with 14,467 contracts traded.

* National turnover was 749.5 million securities worth $3.3 billion.