The Australian sharemarket opened higher, led by a rally in energy stocks as investors shrugged off a mixed session on Wall Street overnight.

The S&P/ASX 200 Index rose 18.4 points, or 0.2 per cent, to 8,534.1 by 10:12am AEST as nine out of 11 sectors climbed.

While the S&P 500 eked out a small gains overnight, investors are waiting for the outcome of trade talks between US and Chinese officials in London.

Delegates met for more than six hours overnight with further talks due later today. President Donald Trump said the talks were positive but “not easy”, while US Commerce Secretary Howard Lutnick said the discussions were “fruitful” and Treasury Secretary Scott Bessent cited a “good meeting”.

On the ASX, energy stocks tracked a higher oil price, climbing 1.3 per cent. Woodside Energy and Santos both rallied more than 1 per cent.