STOCKS - AUSTRALIAN STOCKS UP AT NOON - MARCH 2, 2005.

BRISBANE, March 2 Asia Pulse - The Australian stock market has brushed off the Reserve Bank's decision to lift interest rates with the market slightly up at noon.

At 1203 AEDT the benchmark S&P/ASX200 was up 1.6 points to 4186.5 while the all ordinaries rose 2.9 points to 4167.2.

This morning the S&P/ASX200 broke the previous intraday record of 4195.6 - reached on February 7 - and reached a high of 4201.7 points before retreating.

ABN Amro Morgans senior equities adviser Geoff Voller said the 0.25 percentage point rise in interest rates to 5.50 per cent had been well anticipated.

"It's obviously been factored in," Mr Voller said.

"The banks are handling it quite well and along with the fact that quite a few stocks are ...