Australian shares opened with a 0.2% increase driven by gains in mining sectors like iron ore, lithium, and coal, although this was tempered by weaknesses in healthcare and technology.
Key mining players such as Fortescue and BHP experienced notable rises, while gold miners Regis and Bellevue Gold also saw increases, coinciding with a rise in the gold price to $2377 per ounce.
Meanwhile, on Wall Street, stocks mirrored record highs ahead of the release of the May US payrolls report, while the European Central Bank implemented a significant rate cut, signaling an improved inflation outlook but offering no clear indication of future rate adjustments.
At 11:30am, the S&P/ASX 200 is 0.18 per cent higher at 7,835.70.
The SPI futures are pointing to a rise of 19 points.
Best and worst performers
The best-performing sector is Materials, up 0.89 per cent. The worst-performing sector is REITs, down 0.42 per cent.
The best-performing large cap is Newmont Corporation (ASX:NEM), trading 3.28 per cent higher at $63.83. It is followed by shares in GQG Partners (ASX:GQG) and Insurance Australia Group (ASX:IAG).
The worst-performing large cap is Meridian Energy (ASX:MEZ), trading 5.14 per cent lower at $5.91. It is followed by shares in Telix Pharmaceuticals (ASX:TLX) and Treasury Wine Estates (ASX:TWE).
Commodities and the dollar
Gold is trading at US$2393.60 an ounce.
Iron ore is 2.6 per cent higher at US$109.10 a tonne.
Iron ore futures are pointing to a 1.61 per cent rise.
One Australian dollar is buying 66.67 US cents.