The Australian stockmarket was half a per cent stronger at Friday noon, as the resource giants continued to post gains despite lacklustre overseas leads.

At midday AEST, the benchmark S&P/ASX200 index gained 22.4 points or 0.49 per cent at 4,627.7 points. The broader All Ordinaries index added 22.3 points or 0.48 per cent to 4,672.3 points.

On the Sydney Futures Exchange, the December share price index contract went up 25 points higher at 4,654 points on a volume of 11,384 contracts.

Of the four majors, Commonwealth Bank had gained 15 cents at $52.79, after it warned the 2011 outlook remains "somewhat uncertain". Westpac had risen four cents to $23.32, while ANZ had added 14 cents to $23.80. NAB was seven cents firmer at $25.85 following announcement it was open to acquisitions in the UK.

The major miners likewise posted gains, with BHP Billiton advancing 36 cents or 0.93 per cent at $39.11 after reports takeover target Potash Corp is mobilising a Chinese-led consortium to buy the fertiliser producer.

Rival Rio Tinto firmed $1.36 or 1.84 per cent to $75.15. Australia's third-biggest iron ore miner, Fortescue Metals Group, swelled 0.20 per cent to $4.87.

Gold miner Newcrest Mining advanced 1.84 per cent to $40.92, as the price of gold reached a new all-time high overnight.

Oil companies were flat to higher, with Woodside Petroleum unchanged at $43.63 and Oil Search growing 0.16 per cent to $6.03.