Aussie shares hit 9-day high as traders digest Rio deal

The broader All Ordinaries had gained 55.4 points, or 0.66 per cent, to 8,512.2.

Minutes released overnight from the Federal Reserve's rate-setting committee revealed there had been more dissent than people realised about the Fed's jumbo-sized rate cut in September. 

Several committee members would have favoured a more standard quarter-percentage-point cut, the minutes indicated.

Capital.com market analyst Kyle Rodda said the minutes provided an interesting framing of the latest US inflation readout, set to be released shortly after midnight AEDT on Friday.

Greg Boland, chief strategy officer at Tiger Brokers Australia, said consensus expectations were the readout would show US consumer prices had slightly cooled in September, with core inflation dropping from 3.2 to 3.1 per cent. 

The readout would be crucial for gauging the Fed's future direction, he said.

Eight of the ASX's 11 sectors were higher at midday, with telecommunications flat and industrials and utilities lower.

Property was the biggest gainer, rising one per cent as Goodman Group climbed 1.7 per cent.

In the heavyweight mining sector, Rio Tinto was up 0.3 per cent and Arcadium Lithium had soared 38.8 per cent as the market got its first chance to react to the former's $10 billion takeover offer for the latter.

Fellow lithium developer Liontown had climbed 8.2 per cent, possibly on speculation it could also become a potential takeover target.

Elsewhere in the sector, Fortescue had added 1.3 per cent and BHP had gained 0.4 per cent.

All of the big four banks were higher, with ANZ up 1.0 per cent, CBA adding 0.8 per cent,  Westpac growing 0.4 per cent and NAB rising 0.2 per cent.

The Australian dollar was buying 67.22 US cents, from 67.41 US cents at Wednesday's ASX close.