SYDNEY: The Australian stocks started 0. 24 percent higher on Tuesday although the value of oil dipped to a five-year low.
At the official market open, the benchmark S & P/ASX200 index was up 12.9 points, or 0.24 percent, to open at 5,486.7 points, while the broader All Ordinaries index was up 11.3 points, or 0.21 percent, to 5,458.3 points.
Energy stocks lost 0.72 percent as a sector. Woodside Petroleum fell 0.73 percent while Santos dropped 1.18 percent.
Materials was slightly up 0.07 percent as a sector, with BHP Billiton inching up 0.17 percent and Rio Tinto up 0.1 percent.
Financials were also up with the Commonwealth Bank rising 0.59 percent, the National Australia Bank lifting 0.33 percent, ANZ gaining 0.59 percent and Westpac adding 0.78 percent.
Consumer staples rose 0.69 percent with Wesfarmers up 1.06 percent and Woolworths adding 0.45 percent.
Meanwhile, Qantas shed 0.83 percent while Telstra remained flat.
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