The Australian share market has opened higher, led by financial and retail stocks.

At 1015 AEDT on Friday, the benchmark S&P/ASX200 index was up 33.4 points, or 0.66 per cent, at 5,065.6, while the broader All Ordinaries index was up 31 points, or 0.61 per cent, at 5,074.8.

On the ASX 24, the March share price index futures contract was up 33 points at 5,063, with 10,396 contracts traded.