Local stocks are trading moderately higher at lunchtime in the East, thanks to strong support from mining and energy stocks.

Santos (STO) is the best performing blue-chip stock, up 5.1pct to $13.63 after successfully tapping the market for $500 million.

Firmer metals trade in London has boosted the big miners with BHP Billiton (BHP) up 0.4pct to $45.19 and Rio Tinto (RIO) stronger by 0.6pct to $86.12.

Shares in Ramsay Health Care (RHC) have gained 4pct to $17.30 on a profit upgrade.

Banking stocks are mixed, with Westpac (WBC) down 0.9pct to $22.99 after financials were heavily sold off in Europe on Friday night following a ratings downgrade on Ireland.

The Australian dollar is worth US98.8c, £0.6379 and €75.23c.

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