Australian stocks have opened higher, with the big retail banks and major energy companies leading the broader market higher.

At 10.10am AEDT, the benchmark S&P/ASX200 index was up 14.6 points, or 0.29 per cent, at 4981.9 points.

The broader All Ordinaries index was up 13.9 points, or 0.28 per cent, at 4996.5 points.

Local investors took their cues from a positive night on Wall Street, where the Dow rose 0.39 per cent, the S&P500 rose 0.67 per cent and contract prices for oil also rose.

Energy stocks were the best-performing sector at the open, having risen 0.71 per cent.

Santos was up 6c at $12.71 and Woodside Petroleum was 45c higher at $36.70.

The competition regulator said it would not oppose CBA's proposed takeover of Aussie Home Loans.

CBA, which already held 33 per cent of Aussie and was looking to acquire the remaining 67 per cent stake, was up 5c at $69.21.