THE share market opened slightly higher today, led by miners, following a soft lead from Wall Street.
At 10.15am (AEDT), the benchmark S&P/ASX200 index was up 5.1 points, or 0.11 per cent, at 4805.7, while the broader All Ordinaries index had gained 8.1 points, or 0.17 per cent, at 4881.0 points.
On the ASX24, the December share price index futures contract was up 14 points at 4825, with 8230 contracts traded.
In the S&P/ASX50, around 11 shares were up for every four that fell.
Wall Street closed marginally higher on Friday following a strong week. Investors were buoyed from a stronger than jobs report in the US.
US non-farm payrolls rose a solid 151,000 in October, their first gain since May and more than double economists' expectations of 60,000.
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The Dow Jones industrial average closed up 9.24 points, or 0.08 per cent, at 11,444.08. The Standard & Poor's 500 Index added 4.78 points, or 0.39 per cent, to 1225.84.
The Nasdaq Composite Index rose 1.64 points, or 0.06 per cent, to 2578.98.
The local market was led higher by miners. At 10.19am, Rio Tinto was 84c higher at $88.04, while BHP Billiton was up 29c at $44.56. Fortescue Metals was 6c higher at $6.88.
Sydney Austock securities senior client adviser Michael Heffernan said the local market was receiving a lift from the miners.
"If the resources are going up, the banks go down etc," Mr Heffernan said.
"It is a day when the resources are going up."
The major banks were mixed. At 10.36am, ANZ was up 2c at $24.11 and National Australia Bank was up 12c at $26.09, while Commonwealth Bank was 12c lower at $48.76.
Westpac was down 86c, or 3.7 per cent, at $22.50, after the bank went ex-divided today.
"The banks are struggling again with all the political brouhaha about interest rates," Mr Heffernan said.
"It is depressing their share prices."
Mr Heffernan said the local market "could even fade a bit away" on Monday despite the positive opening.
The spot price of gold in Sydney was $US1393.80 per fine ounce, up $US5.45 from Friday's local close of $US1388.35.
The precious metal reached a record high of $US1397.80 per fine ounce during Friday's offshore session as the US Federal Reserve's program to resume buying government bonds stoked inflation worries.
Gold miner Newcrest Mining was up 39c at $43.23.
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