Shares open higher on US market rise

THE share market has opened higher, led by the mining and energy shares, after a positive lead from Wall Street and firmer commodities prices during offshore trade. At 10.15am AEDT, the benchmark S&P/ASX200 index was up 37.2 points, or 0.78 per cent, at 4792.4, while the broader All Ordinaries had risen 37.6 points, or 0.79 per cent, to 4811.4.

At 10.16am AEDT, mining giant BHP Billiton had advanced 70 cents, or 1.75 per cent, to $40.80, and Rio Tinto was up $2.25, or 3.09 per cent, at $75.13.

Energy shares were higher, too. Woodside rose 86 cents, or 1.72 per cent, to $50.96, Oil Search added eight cents, or 1.37 per cent to $5.93 and Santos gained 10 cents to $15.48.

US shares rallied to 13-month highs in New York on Monday, buoyed by a surprise rebound in US retail sales and amid a fresh bout of US dollar weakness and soaring commodities prices.

The Dow Jones Industrial Average advanced 1.3 per cent, while the broader S&P500 index gained 1.5 per cent to close above 1,100 for the first time since October last year.

The Nasdaq composite index ended 1.4 per cent higher.

On the New York Mercantile Exchange on Monday, gold for December delivery touched an all-time high of $US1,143.00 per ounce.

Among the other commodities, oil, copper, silver and platinum also rose during the offshore session.

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