Australian stocks have opened higher following a positive lead from Wall Street on Friday.

The local market has started the day strongly, with both the S&P/ASX200 and the All Ordinaries pushing back above the 5200 point mark for the first time in more than a week.

IG market strategist Stan Shamu said the market was taking its lead from the US, where the major indices shrugged off disappointing jobs numbers to finish more than one per cent higher on Friday.

Mr Shamu said traders were starting to feel more positive after several weeks of weakness on equities markets.

“There is just a generally buoyant mood after that sharp sell off over the past couple of weeks or so, so I think a bit of bargain hunting is kicking in,” he said.

The gains were spread across all of the major market sectors on Monday morning, with the big four banks and resources among the biggest drivers.

As of 1025 AEDT, BHP Billiton had climbed 38 cents to $36.47, Rio Tinto had lifted $1.01 to $66.97 while iron ore miner Fortescue was five cents higher at $5.65.

The Commonwealth Bank was up 74 cents to $74.26 while Westpac had gained 40 cents to $31.65, ANZ was 36 cents higher at $29.81 and National Australia Bank had lifted 40 cents to $33.18.

Telstra was one cent higher at $5.06.

The gold miners were also higher, with Newcrest Mining up 42 cents, or four per cent, higher at $10.79.

KEY FACTS

* At 1025 AEDT on Monday benchmark S&P/ASX200 index had climbed 42 points, or 0.81 per cent, to 5,208.5 points.

* The broader All Ordinaries index was up 41.1 points, or 0.79 per cent, at 5,225.6 points.

* The March share price index futures contract was 35 points higher at 5,157, with 8,286 contracts traded.

* National turnover was 274 million securities worth $392 million.