SYDNEY, Feb. 26 (Xinhua) -- Australian shares opened higher on Monday, continuing to climb after global markets rallied on Friday.
At 10:35 (AEDT), the benchmark S&P/ASX 200 index was up 30.60 points or 0.51 percent at 6,030.40, while the broader All Ordinaries index gained 31.50 points or 0.52 percent at 6,136.70.
"Investors have a positive picture of corporate health as the U.S. and Australian reporting seasons draw to a close," CMC markets' chief market strategist Michael McCarthy told Xinhua on Monday.
"And a further surge in European and U.S. stock markets is pointing to a strong start in Asia Pacific trading today."
McCarthy also suspects that the strengthening U.S. dollar could help underpin local optimism as resurgent energy markets indicate a continuation of "pro-growth activity."
In the financial space, Australia's big banks strengthened with The Commonwealth Bank up (0.50 percent), Westpac Bank up (1.12 percent), National Australia Bank up (0.64 percent) and ANZ up (1.02 percent).
Mining stocks also improved with BHP up (0.72 percent), Rio Tinto up (0.26 percent), Fortescue Metals up (0.77 percent) and Newcrest Mining unchanged (0.00 percent).
The country's oil and gas producers soared on the back on higher crude prices with Woodside Petroleum up (1.61 percent), Santos up (0.39 percent) and Oil Search up (0.66 percent).
Australia's largest supermarket chains saw mixed results with Wesfarmers down (2.52 percent) and Woolworths up (1.90 percent).
While telecommunications giant Telstra lifted (0.58 percent), the national carrier Qantas rallied (0.87 percent) and biomedical firm CSL fell (0.19 percent).
