The Australian share market has kicked off the trading week on a buoyant note, following a strong lead from Wall Street on Friday night. The Dow Jones Index rose 1.2pct on Friday and 2.9pct over the week following better than expected economic data. At lunchtime in the East, the All Ordinaries Index (XAO) is firmer by 17.6pts or 0.4pct to 4595.2.

Financial stocks generally look healthy, with the big four banks up 0.5-1pct. However Macquarie Group (MQG) is lagging, down 5.2pct to $35.08 after issuing a profit warning.

Index leader BHP Billiton (BHP) is slightly higher, up 0.1pct to $38.36.

Insurer IAG (IAG) says it expects claims arising from the New Zealand earthquake to have little impact on its bottom line. IAG shares are down 0.6pct to $3.45 while Suncorp-Metway (SUN) is down 0.1pct to $8.60. QBE Insurance (QBE) is up 0.8pct to $17.03.

The Australian dollar is buying US91.56c, £0.5919 and €71.03c.