The ASX is higher again today with the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) gaining 0.6% by lunchtime.
The local gains follow another positive lead overnight in the US where the Dow Jones and the S&P 500 both added 0.4% amid a number of positive earnings results and a huge US$50 billion bid for health care company Allergan.
In local economic news, the Australian Bureau of Statistics released monthly data for the consumer price index which showed a reading within the Reserve Bank of Australia's target range. The data eased investors' concerns that interest rates may rise earlier than previously forecast.
The banks are all higher, however the major miners are slightly lower. The consumer discretionary sector and information technology sectors are leading the charge with gains of 1% and 2.4% respectively.
Here are the top five best performing stocks in the index at midday today:
- Resolute Mining Limited (ASX: RSG) has gained 4.3% to 60.5 cents
- Lynas Corporation Limited (ASX: LYC) has climbed 4% to 18.2 cents
- Magellan Financial Group Ltd (ASX: MFG) has added 3.7% to $12.73
- Beadell Resources Ltd (ASX: BDR) has risen 3.2% to 63.5 cents
- Echo Entertainment Group Ltd (ASX: EGP) is up 2.9% to $2.82
These are the five worst performing stocks at midday today: