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Australian share market opens slightly up

Xinhua, July 31, 2015 Adjust font size:

Australian shares had a modest gain at the open on Friday.

Rises from the major banks countered investor profit taking from miners BHP and Rio.

At the market open, the benchmark S&P/ASX200 rose 19.4 points, or 0.34 percent, to 5688.9 points, while the broader All Ordinaries added 18.5 points, or 0.33 percent, to 5671.6 points.

The Commonwealth Bank and ANZ lifted 0.8 percent, Westpac was up 0.6 percent and the National Australia Bank grew 0.75 percent.

BHP and Rio Tinto dropped 0.5 percent on the back of falling iron ore prices, while Fortescue lost 2.4 percent.

Meanwhile, Qantas rallied 1.2 percent while Telstra added 0.16 percent. Endi