Australian stocks have started the trading week on a high, after the Dow Jones Index posted its best October in four years. The likelihood of a further injection of stimulus from the US Federal Reserve is also boosting investor sentiment.

Financial stocks are among the best performers, with shares in Westpac (WBC) stronger by 1.8pct to $23.11 and the Commonwealth Bank (CBA) up 1.6pct to $49.70.

Mining stocks have also posted solid gains, despite general weakness on the London Metals Exchange on Friday. Shares in BHP Billiton (BHP) are firmer by 1.4pct at lunchtime in the East to $42.51 while Newcrest Mining (NCM) has added 1.7pct to $40.65.

Shares in the Ten Network (TEN) are firmer by 1.4pct to $1.46 on news the broadcaster has offered directorships to James Packer and Lachlan Murdoch.

The Australian dollar is worth US98.5c, £0.6139 and €70.56c.