The Aussie market is sharply higher heading into the afternoon session, with the local bulls running with the positive leads provided by international markets overnight.
The XJO is currently 95 points (+2.3%) stronger, with every sector firmly in the green.
Materials stocks are the star performers, with BHP (+3.5%), RIO (+4.5%) and FMG (+6%) the standouts within the sector.
In company news, Transfield Services (TSE) is up 3% following confirmation of a $130 million defence work contract.
Around the region, Asian markets are all trading solidly higher.
The Hang Seng is the strongest performer, currently up 3%.