Australian shares opened stronger, buoyed by overnight leads and hopes the European Central Bank will take action soon to relieve the euro zone debt crisis.
At 1015 AEST on Tuesday, the benchmark S&P/ASX200 index was up 6.6 points, or 0.15 per cent, at 4,279.2, while the broader All Ordinaries index was up 5.8 points, or 0.14 per cent, at 4,298.7.
On the ASX 24, the September share price index futures contract was four points higher at 4234, with 5,047 contracts traded.
Overseas markets continued to rise overnight on hopes the European Central Bank president Mario Draghi was getting closer to taking action on the eurozone sovereign debt crisis.
Wall Street's Dow Jones Industrial Average added 21.34 points to 13,117.51, and European markets posted gains of 0.4 to 0.8 per cent.
CMC Markets chief analyst Ric Spooner said positive sentiment from recent days had continued to influence investors.
"International markets are becoming encouraged by signs that Mario Draghi's leadership role in Europe may pay dividends," he said.
But evidence of action would be needed before markets post a sustained rally, Mr Spooner said.
"Investors may need more detail on the European arrangements or good news on major economies to push prices higher," he said.
Among resource stocks, the mining giants were stronger with BHP Billiton gaining 16 cents to $32.16 and Rio Tinto surging 64 cents to $54.77.
In local equities news, construction giant Leighton Holdings opened almost five per cent lower, shedding 76 cents to $15.97, after announcing net profit for the six months to June 2012 dropped to $115 million, down from $340 million in the previous first half.
Industrial equipment maker Bradken was 37 cents higher to $5.53 after reporting full year profit had grown by 49 per cent to $100.5 million due to growing demand from resource sectors across the world.
Toll road operator Transurban shed nine cents at $5.94 after announcing full year net profit had almost halved, down 51.2 per cent to $58.6 million, attributed to a drop in value of one of its roads in the United States.
Hearing device maker Cochlear was almost 11 cents weaker at $65.32 at 1030 AEST, after posting a 68 per cent drop in full year profit, hit by the costs of a recall of one of its bionic ear implants.
In local economic news, the Reserve Bank of Australia is expected to take a decision on interest rates at its board meeting at 1430 AEST.
National turnover was 127 million million shares worth $183 million, with 240 up, 164 down and 226 unchanged.
Keep reading - next article