At 10:30 (AEST), the benchmark S&P/ASX 200 index was up 12.40 points or 0.18 percent at 7,075.90, while the broader All Ordinaries index was up 15.80 points or 0.22 percent at 7,341.60.
"Australian shares are poised to extend last week's advance, on the strength of positive earnings and data from overseas," Timothy Moore, Financial Review's online editor said.
US sharemarkets climbed to all-time highs on Friday after the release of strong company earnings and economic data. For the week, the S&P 500 index rose 1.40 percent, the Dow Jones index added 1.20 percent and the Nasdaq index gained 1.10 percent.
In the financial space, the big banks rose with Commonwealth Bank up (0.36 percent), National Australia Bank up (0.11 percent), Westpac Bank up (0.20 percent) and ANZ up (0.10 percent).
Mining stocks varied with BHP down (0.27 percent), Rio Tinto up (1.41 percent), Fortescue Metals up (1.06 percent) and goldminer Newcrest down (0.72 percent).
The country's oil and gas producers dived with Oil Search down (1.00 percent), Santos down (0.42 percent) and Woodside Petroleum down (0.91 percent).
Australia's largest supermarkets were mixed with Coles down (0.26 percent), and Woolworths up (0.19 percent).
Meanwhile, telecommunications giant Telstra was unchanged (0.00 percent), the national carrier Qantas was down (0.58 percent) and biomedical firm CSL was down (0.93 percent).
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