SYDNEY - The Australian sharemarket opened the week higher after Wall Street started off the new year optimistically on Friday and following gains in the resources sector.
At 1015 AEDT, the benchmark S&P/ASX200 index was up 46.9 points, or 1.26 per cent, at 3,760.7, and the broader AllOrdinaries index had gained 47.5 points, or 1.3 per cent, to 3,703.2.
On the Sydney Futures Exchange, the March share price index contract was 74 points higher at 3,752 on a volume of 4,200 contracts.
BHP Billiton, the country's largest company, rose $1.10. or 3.6 per cent, to $31.68. Rival Rio Tinto increased $1.90, or 4.88 per cent, to $40.86.
Banking stocks were stronger.
Westpac lifted 14 cents to $16.90, National Australia Bank increased 19 cents to $20.59, Commonwealth Bank added 24 cents to $29.44 and ANZ rose 16 cents to $15.34.
On Friday, US investors brushed off a weaker-than-expected report on manufacturing, sending US stocks higher.
The Dow Jones gained 258.3 points, or 2.94 per cent, to 9034.69, its first close above 9,000 in two months.
The Standard & Poor's 500 index rose 28.55 points, or 3.16 per cent, or 931.8 points, while the Nasdaq ended that day 55.18 points or 3.5 per cent higher at 1632.21.
