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Australian stock market opens higher

Xinhua, April 7, 2017 Adjust font size:

The Australian market has opened higher on Friday with financial stocks buoying the index.

At 10:40 (AEST), the S&P/ASX 200 index was up 29.00 points or 0.50 percent at 5,885.30, while the broader All Ordinaries index gained 28.60 points or 0.48 percent at 5,925.90.

"We had a good lead coming out of the U.S." IG market analyst, Evan Lucas told Xinhua.

"Although the markets over there were somewhat choppy in parts, if you look at the financial space, the sector had a very reasonable run that has drifted through to us."

The Commonwealth Bank lifted 0.70 percent, National Australia Bank gained 0.68 percent, Westpac added 0.50 percent and ANZ rallied 0.77 percent.

Rio Tinto was flat at 0.00 percent, BHP Billiton rose 0.28 percent, Fortescue Metals lost 1.83 percent, while Newcrest edged higher at 0.04 percent.

Woodside Petroleum climbed 0.77 percent, Santos was down 0.13 percent and Oil Search lifted 0.48 percent.

Wesfarmers added 0.52 percent and Woolworths is also higher at 0.23 percent.

Qantas added 0.25 percent, Telstra gained 0.55 percent and CSL climbed 0.60 percent. Endit