ASX opens higher as banks bounce back

Australian shares have opened higher, with the big four banks bouncing back from losses of the previous day.

The benchmark S&P/ASX200 index was up 36.2 points, or 0.58 per cent, to 6,234.9 points at 1030 AEST on Friday, while the broader All Ordinaries was up 33.2 points, or 0.53 per cent, to 6,327.3.

The finance sector led gainers at the start of trade, adding 1.16 per cent.

ANZ was up 1.57 per cent to $25.91, Commonwealth was up 1.44 per cent to $71.275, NAB was up 0.90 per cent to $24.66, and Westpac was up 0.66 per cent to $25.74.

Health care was the only sector of the market in negative territory – collectively falling 0.39 per cent – as pharma giant CSL dipped 0.51 per cent to $197.99.

Mining giant BHP was up 0.13 per cent to $39.69 while Rio Tinto was up 0.39 per cent to $100.87.

Shares in price comparison platform iSelect fell more than two per cent after the Australian Competition and Consumer Commission alleged the website had been favouring some partner energy retailers over others.

The Aussie dollar is buying 71.17 US cents, from 71.61 US cents on Thursday.

By AAP

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