The share market has opened higher despite a partial US government shutdown pushing other markets around the world into the red.
CommSec market analyst Steven Daghlian said the modest move higher wasn’t that surprising, given Australian stocks had fallen more heavily than US or European markets since the US budget impasse came to a head early in the week.
“Since the start of the week we’re down about 1.6 per cent, while the US market in contrast is down about 0.8 per cent,” he said.
“So you probably wouldn’t expect as significant a pullback from us today.”
Mining stocks were among the strongest performers, thanks to a fall in the US dollar and rising commodity prices.
BHP Billiton was up 29 cents to $35.60, Rio Tinto was 50 cents higher at $60.79 and Fortescue Metals had gained three cents to $4.81.
The big four banks were also higher, with ANZ up 16 cents at $31.06 and Commonwealth up six cents at $71.73, Westpac had gained 13 cents to $32.56 and National Australia Bank was 22 cents higher at $34.74.
One stock to post a heavy fall was construction giant Leighton Holdings, following media reports of allegedly corrupt practices in its overseas operations.
Leighton was down $1.76, or nine per cent, at $17.82.
KEY FACTS
* At 1025 AEST on Tuesday, the benchmark S&P/ASX200 index was up 13.1 points, or 0.25 per cent, at 5,228.7.
* The broader All Ordinaries index was up 10.9 points, or 0.21 per cent, at 5,225.8.
* The December share price index futures contract was 11 points higher at 5,223, with 7,987 contracts traded.
* National turnover was 261 million securities worth $390 million.
