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STOCKS - AUSTRALIAN SHARES OPEN HIGHER - APRIL 2, 2001.
SYDNEY, April 2 Asia Pulse - The Australian stock market made a positive start to the week, opening stronger following moderate bargain-hunter-driven gains on Wall Street on Friday.
Heavyweight stocks News Corp, Telstra, Qantas, BHP, Rio Tinto and the big four banks all opened marginally stronger.
At 1018 (AEST), the benchmark S&P 200 had gained 25.5 points to 3172.7, while the all ordinaries index grew 24.3 points to 3121.2.
The all resources index climbed 14.2 to 1422.2 and the all industrials lifted 45 points to 5362.7.
It followed a rare bright spot on Wall Street in New York on Friday, to mark the end of one of the market's worst quarters in decades.
Investors overlooked signs that the US economy has slumped even further and put aside fears about a recession to take advantage of cheaper prices of long-battered tech stocks and recently hard-hit blue chips.
However, analysts cautioned about getting overly optimistic that the market is ready to sustain a rally.
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Source: HighBeam Research, STOCKS - AUSTRALIAN SHARES OPEN HIGHER - APRIL 2, 2001.