The Australian market has opened higher after gains on international markets as investors shrugged off worries about the partial US government shutdown.

Market analysts believe investors had expected a government shutdown and were more focussed on positive economic data, such as recent growth in US manufacturing.

The release of local building approvals and trade statistics on Wednesday will be a focus for investors, after positive manufacturing numbers in Australia for the first time in two years on Tuesday.

“We are seeing the very early signs of a possible pick up in the Australian economy,” CMC Markets chief market analyst Ric Spooner said.

Financial and health stocks were the best early performers.

ANZ added 20 cents to $31.04, Commonwealth Bank added 58 cents to $71.93, National Australia Bank found 11 cents to $34.52 and Westpac was 4.5 cents higher at $32.585.

Blood plasma and vaccine developer CSL was 58 cents higher at $65.11 and medical products group Resmed had climbed seven cents to $5.70.

Resources stocks were weaker, as the US government shutdown had an adverse effect on commodity prices, including oil, due to doubts about the strength of US energy demand.

BHP Billiton was 14 cents lower at $35.35, Rio Tinto had fallen 20 cents to $60.87 and goldminer Newcrest Mining had slumped by 41 cents to $10.99.

KEY FACTS

* At 1049 AEST the benchmark S&P/ASX200 index was up 15.3 points, or 0.29 per cent, at 5,222.1 points.

* The broader All Ordinaries index was up 15.3 points, or 0.29 per cent, at 5,221.6 points.

* The December share price index futures contract was eight points higher at 5,217 points, with 7,707 contracts traded.

* National turnover was 452 million securities worth $702 million.