The Australian share market has opened nearly half a per cent higher.

At 1013 AEDT on Thursday, the benchmark S&P/ASX200 index was up 24.5 points, or 0.46 per cent, at 5,287.4, while the broader All Ordinaries index was up 24.9 points, or 0.47 per cent, at 5,289.3.

On the ASX 24, the December share price index futures contract was up 23 points at 5,275, with 6,987 contracts traded.