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The Australian share market is just about hovering in positive territory after the financial sector bounced back from early losses.

The benchmark S&P/ASX200 index was up just 1.6 points, or 0.02 per cent, to 6,642.1 points at 1200 AEST on Thursday, while the broader All Ordinaries was up 2.9 points, or 0.04 per cent, to 6,719.0.

Energy shares were the highest climbers by midday, adding 0.99 per cent, after oil prices gained more than two per cent overnight.

Santos, Woodside Petroleum, Oil Search, Origin Energy and Beach Energy were up between 0.40 per cent and 1.77 per cent.

Property trusts had the steepest losses, collectively slumping 1.81 per cent, as shares across the sector traded ex-dividend.

The big four banks were mostly higher after a rocky early start when the sector slipped into the red.

ANZ was up 0.14 per cent to $28.19, Commonwealth was up 0.52 per cent to $82.615, and Westpac was up 0.34 per cent to $28.135.

NAB was the outlier, down 0.28 per cent to $26.625.

In the heavyweight mining sector, BHP was up 1.14 per cent to $41.63, Rio Tinto was up 1.76 per cent to $104.98 and Fortescue Metals was up 2.93 per cent to $8.955.

Sonic Healthcare was down 1.24 per cent after the medical diagnostics firm said it was selling its 85 per cent stake in German lab tech firm GLP Systems.

Xero was up 0.03 per cent to $61.04 after the accounting software firm announced former Telstra CEO David Thodey was joining its board.

The Aussie dollar is buying 69.99 US cents from 69.75 US cents on Wednesday.