The Australian stock market was stronger at Wednesday noon, as news from the US buoyed banking stocks.

At midday AEST, the benchmark S&P/ASX200 index was 10 points or 0.22 per cent higher at 4627.5 points. Meanwhile the broader All Ordinaries index had lifted 10.6 points or 0.23 per cent at 4675.5 points.

Health, consumer staples and energy were the strongest sub-indices, up 1.64, 0.92 and 0.46 per cent respectively. Telecoms was the worst performer, dropping 0.74 per cent.

On the Sydney Futures Exchange, the December share price index contract was steady at 4648 on a volume of 12,999 contracts.

It had been a good morning's trade on thin volumes, according to Anthony Anderson, a senior trader with MG Global.

"The US talked about quantitative easing and the banks are performing well."

"The insurance sector, apart from QBE, is really positive too," he said.

However, Telstra was about one cent weaker, at $2.71 as brokers digested recent reports that cast doubt on benefits flowing from a deal on the national broadband network.

Of the major banks, Commonwealth Bank advanced 12 cents to $52.74. Westpac had added 15 cents at $23.47, National Australia Bank lifted 18 cents at $25.94, and ANZ had risen eight cents at $23.88.

Investment bank Macquarie Group was 37 cents higher at $36.71.

The resources were slightly weaker after metals prices retreated overnight, but mining giant BHP Billiton had improved eight cents to $38.75 at 12.08pm (AEST).

Its rival Rio Tinto declined more than half a per cent at $74.84.