Australian stocks open higher

he Australian share market opened higher Friday following a positive lead from the U.S. equities market.

At the open, the benchmark S&P/ASX200 index was up 32.1 points, or 0.61 percent, at 5,272.0, while the broader All Ordinaries index was up 33.4 points, or 0.63 percent, at 5,370.5 points.

CMC Markets market chief and market analyst Ric Spooner said in a research note the solid opening on the Australian market on Friday provides a clear insight into how trader thinking is currently dominated by the U.S. Federal Reserve.

"Assuming the Fed rate hike is deferred, this creates risk that events might conspire to mean that it does not happen in December either," Spooner said.

"With bond markets consolidating on Thursday night, stock markets are reacting to the short term risk that they have over shot to the downside," he said.

At the open, ANZ was up 0.77 percent, the National Australia Bank rose 0.86 percent, Westpac jumped 0.62 percent, while the Commonwealth Bank of Australia climbed 0.32 percent.

BHP Billiton rallied 0.77 percent, rival Rio Tinto increased 0.51 percent while gold miner Newcrest fell 0.98 percent.

Oil Search was 3.00 percent higher, Santos tumbled 2.85 percent while Woodside Petroleum surged 0.59 percent.

Wesfarmers soared 0.52 percent while rival Woolworths gained 0.22 percent.

Qantas was 0.62 percent higher while telecommunication giant Telstra rose 0.60 percent at Friday's open. Endit