At 11:35am, the S&P/ASX 200 is 0.61 per cent higher at 7,825.40.
The results are driven by a strong performance from retail stocks led by JB Hi-Fi. The broader market also gained momentum as global sentiment improved. Consumer discretionary stocks were the top performers, while technology shares also contributed to the positive market mood.
JB Hi-Fi is expanding its business beyond consumer electronics by acquiring kitchen and bathroom products group E&S Trading, marking its entry into the commercial builder market. The retailer also rewarded shareholders with a special dividend after reporting better-than-expected profits, despite a decline in underlying net profit.
The SPI futures are pointing to a rise of 50 points.
Best and worst performers
The best-performing sector is Consumer Discretionary, up 1.66 per cent. The worst-performing sector is Materials, up 0.02 per cent.
The best-performing large cap is JB Hi-Fi (ASX:JBH), trading 9.11 per cent higher at $73.51. It is followed by shares in Harvey Norman Holdings (ASX:HVN) and CAR Group (ASX:CAR).
The worst-performing large cap is Aurizon Holdings (ASX:AZJ), trading 7.18 per cent lower at $3.36. It is followed by shares in Pilbara Minerals (ASX:PLS) and REA Group (ASX:REA).
Commodities and the dollar
Gold is trading at US$2468.00 an ounce.
Iron ore futures are pointing to a 0.1 per cent fall.
One Australian dollar is buying 65.85 US cents.
