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Australian market starts morning trade higher

Xinhua, April 5, 2017 Adjust font size:

The Australian market has opened higher on Wednesday, with material and energy stocks driving the index.

At 10:35 (AEST), The S&P/ASX 200 index up 16.20 points or 0.28 percent at 5,872.80, while the broader All Ordinaries index rose 16.80 points or 0.28 percent at 5,912.60.

"The materials sector are responding to lifts in iron ore and base metal prices," chief market analyst, Ric Spooner told Xinhua.

"We also saw stronger oil prices overnight, which are boosting energy shares."

The Commonwealth Bank was up 0.19 percent, National Australia Bank slipped 0.21 percent, Westpac lost 0.57 percent and ANZ was down 0.28 percent.

Rio Tinto climbed 2.35 percent, BHP Billiton rose 2.72 percent, Fortescue Metals also surged at 2.79 percent, while gold miner Newcrest remained flat at 0.00 percent.

Woodside Petroleum lifted 1.40 percent, Santos gained 1.76 percent and Oil Search was also higher at 0.96 percent.

Wesfarmers shares fell 1.59 percent and Woolworths added 0.64 percent.

Qantas was up 0.26 percent, Telstra slid 0.43 percent and CSL edged lower at 0.08 percent. Endit