Australian stocks climb at opening

The Australian share market has opened higher.

At 1010 local time (AEDT) on Monday, the benchmark S&P/ASX200 index was up 29.8 points, or 0.57 percent, at 5,210.6, while the broader All Ordinaries index was up 27.2 points, or 0.52 percent, at 5,290.3 points.

CMC Markets chief market analyst Ric Spooner said the Australian share markets were likely to remove some of the risk premium taken as a precaution against a (Donald) Trump victory now that (Hillary) Clinton will not be charged over her use of a private email server.

"However, an element of uncertainty remains over this (U.S.) election," Spooner said in a note.

"It seems unlikely that markets will make a full "risk on" move until (Hillary) Clinton is declared the winner," he added.

At the open, ANZ was up 0.41 percent, the National Australia Bank was down 5.99 percent, Westpac fell 0.54 percent, while the Commonwealth Bank of Australia declined 0.32 percent.

BHP Billiton rallied 0.45 percent, rival Rio Tinto decreased 0.62 percent while gold miner Newcrest tumbled 1.21 percent.

Oil Search was 1.51 percent lower, Santos was unchanged while Woodside Petroleum shed 0.36 percent.

Wesfarmers sank 0.93 percent while rival Woolworths declined 0.13 percent.

Qantas was 2.34 percent lower while telecommunication giant Telstra was unchanged at Monday's open. Endit