Local stocks have kick-started the trading week on a healthy note, with investor sentiment boosted by more clarity surrounding the Ireland bailout package and China's decision to tighten monetary policy.

Financial stocks are enjoying solid gains, with shares in the ANZ (ANZ) the best out of the big four lenders. ANZ shares have added 1.2pct in early trade to $22.75.

Mining stocks have also started strong, BHP Billiton (BHP) is trading up 0.8pct to $43.97 while Rio Tinto (RIO) is firmer by 0.9pct to $85.02. Fortescue Metals Group (FMG) has gained 1.2pct to $6.78.

Telstra (TLS) is up 1.2pct to $2.65 in early trade.

Shares in QR National (QRN), Australia's largest freight operator, have just come online trading up $0.09 from the retail offer of $2.45 at $2.54.

Shares in Pike River Coal (PRC), the company at the centre of the mine explosion in New Zealand, have been suspended from trade pending an announcement. PRC fell 14pct on Friday to $0.61. New Zealand Oil and Gas (NZO) shares are in a trading halt, last at $0.92.

The Australian dollar is stronger against all the major currencies, at US99.1c, £0.6193 and €72.1c.