The Australian share market at noon was higher, led by the resources sector, as investor confidence picked up despite a mixed lead from United States markets.
At 1200 AEDT, the benchmark S&P/ASX200 index was 10.4 points, or 0.24 per cent, higher at 4,348.3 points while the broader All Ordinaries index was up nine points, or 0.2 per cent, at 4,431.0 points.
On the ASX 24, the June share price index futures contract was 25 points stronger at 4,365 points, with 15,477 contracts traded.
"The Aussie market seems to have swung around from an inclination to underperform against major international benchmarks to outperforming," CMC Markets chief market analyst Ric Spooner said.
Mr Spooner said the local market may be improving because investors believed that shares in Australia were offering good value at the moment compared to shares on overseas markets.
Furthermore, a recent weakening in the high Australian dollar against the United States dollar had boosted the earnings prospects of companies exposed to fluctuating exchange rates.
The Australian market had also recently begun to stay above levels at which investors had been reluctant previously to go past (technical resistance).
At 1208 AEDT, diversified retailer, miner and insurer Wesfarmers was up 16 cents at $29.89 after the Wesfarmers-owned hardware chain, Bunnings, said its $1.5 billion expansion plan would create 6,000 jobs over the next three years.
Airline Virgin Australia was steady at 46.5 cents after it said its proposed new ownership structure - where its international operations will be split into a separate unlisted entity - had been finalised and an in specie dividend would be distributed to shareholders.
Shares in grocery and liquor distributor Metcash were in a trading halt, pending an announcement to the market.
Metcash, which owns Franklins supermarkets, is set to announce impairment charges that will impact on its net profit.
Metcash last traded at $4.30.
Gambling firm Tabcorp was one cent higher at $2.72 as it said a legal victory by NSW authorities over Betfair and Sportsbet would ensure the viability of Australia's racing industry.
The High Court on Friday ruled in favour of Racing NSW and Harness Racing NSW in their battle with Betfair and Sportsbet over the fees they charge for racefield information.
In the resources sector, global miner BHP Billiton had improved 54 cents to $34.79 as the company said its head of iron ore, Ian Ashby, would stand down in July.
Rio Tinto was up $1.54 at $65.90.
Among the major banks, National Australia Bank shares were 15 cents lower at $24.84, Westpac put on 13 cents at $22.01, ANZ added five cents to $23.51, and Commonwealth Bank dropped 23 cents to $50.22.
On Wall Street on Thursday, stocks traded in negative territory for most of the overnight session before a strong finish.
The Dow Jones Industrial Average index rose 19.61 points, or 0.15 per cent, to 13,145.821 points.
The broad-based S&P 500 lost 2.26 points, or 0.16 per cent, at 1,403.28 points.
Subscribe to the Share Picks weekly free market report today!