Australian Markets Make Positive Start to 2014

• The Australian market is trading higher as investors' outlook is positive on first trading day of 2014.

• The benchmark S&P/ASX 200 index opened higher today morning at 5,356.80 while the broader All Ordinaries opened at 5,354. 

• In the resources sector, global miner BHP Billiton had lifted 18 cents at $38.17, Rio Tinto was 57 cents richer at $68.75 and Fortescue Metals had improved five cents to $5.87.

• Among the major banks, Westpac had added two cents to $32.40 as it completed its $1.45 billion purchase of Lloyds Banking Group’s Australian motor and equipment finance business.

• ANZ had gained three cents at $32.26, Commonwealth Bank was up 26 cents at $78.06 and National Australia Bank was 2.5 cents higher at $34.855.

• Australian dollar is trading marginally stronger against the US dollar. AUD is trading at 89.23 US cents.

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