Australian stocks are higher after a slow start to trading across most sectors.

The market opened lower on Friday following weak overseas leads triggered by suspended trading by Portugal’s biggest bank.

Morgans Brisbane Senior private client adviser Bill Chatterton said the Australian market had shrugged off a modestly lower close on Wall Street overnight.

“In the US the market finished … down about 0.4 per cent so today we’ve decided to completely ignore that,” he told AAP.

“There must be some money coming in from overseas to buoy things up a little bit,” he said.

He said money was flowing into the “top end of town” with Woolworths and Wesfarmers both stronger.

Resources stocks were mixed at noon despite positive trade data out of China on Thursday.

BHP Billiton was up 22 cents at $37.63, Rio Tinto was 26 cents lower at $62.15, Woodside Petroleum up 40 cents to $41.78 and Fortescue Metals was down one cent at $4.34.

The major banks were all slightly higher, with ANZ up 30 cents to $33.46, Westpac 31 cents at $34.06, NAB 22.5 cents to $33.61 and Commonwealth Bank up 31 cents at $81.16.

KEY FACTS

* At 1200 AEST on Friday the benchmark S&P/ASX200 index had gained 25.9 points or 0.47 per cent, to 5490.3.

* The broader All Ordinaries index had lifted 23.6 points, or 0.43 per cent, to 5477.9.

* The September share price index futures contract was 27 points higher at 5447, with 18,013 contracts traded.

* National turnover was 844 million securities worth $ 1.57 billion.