SYDNEY, Feb. 2 (Xinhua) -- The Australian market has opened higher Thursday with positivity from the materials sector and firm oil prices underpinning the upward trend.
At 10:59 (AEDT) The S&P ASX/200 index lifted 5.10 basis points or 0.09 percent at 5,657.00, while the broader All Ordinaries index rose 2.90 basis points or 0.05 percent at 5,706.10.
"Markets are positive this morning right across the board, from financials to materials and we have historically low short positions across the top end of the market," IG market analyst Gary Burton told Xinhua.
With oil prices very firm, despite higher than expected stockpiles in the U.S. "We haven't seen any sudden moves, just consolidation of growth."
The Commonwealth Bank was 0.28 percent higher, National Australia Bank lifted 0.43 percent, Westpac 0.88 gained percent and ANZ lifted 0.37 percent.
Rio Tinto was up 0.54 percent, BHP Billiton shocks rose 0.55 percent and Newcrest climbed 0.70 percent.
Woodside Petroleum added 1.39 percent, Santos edged lower at 0.25 percent and
Oil Search rose 1.60 percent.
Wesfarmers gained 1.49 percent and Woolworths surged 1.99 percent.
Telstra 1.40 added percent and Qantas shares fell by 2.05 percent.
