AAPThe Australian share market is expected to climb higher on...

AAP

The Australian share market is expected to climb higher on Monday, buoyed by a positive Wall Street lead and fewer concerns over Japan's crisis and the conflict in Libya.

Upbeat corporate earnings reports and a positive revision to fourth quarter US growth figures drove stocks higher, with all major indices finishing in positive territory.

Investors received more evidence of the US recovery on Friday, with the US Commerce Department's revision of fourth quarter economic growth to 3.1 per cent from 2.8 per cent.

The Dow Jones Industrial Average added 50.03 points, or 0.41 per cent, to 12,220.59, while the broader Standard & Poor's 500 gained 4.14 points, or 0.32 per cent, to 1313.80 points.

The tech-laden Nasdaq Composite rose 6.64 points, or 0.24 per cent, to 2743.06.

Better-than-forecasted earnings from Oracle Corp and Accenture Plc boosted the markets, with Oracle beating fiscal third quarter earnings estimates and reporting that revenues were growing at an annual rate of 36 per cent.

CMC Markets' chief market strategist, Michael McCarthy, said Wall Street's performance over the week was one of its best for some time.

The US market has regained all of its losses since the Japanese earthquake, and the local market is set to benefit on Monday, he said.

"Given that gold, oil and the VIX (volatility index) are indicating that the fear factor is lower, I think we'll be off to a positive start to the trading week."

The benchmark S&P/ASX200 index on Friday finished up 43.043 points, or 0.92 per cent, at 4742.6 points, while the broader All Ordinaries index was 46.1 points, or 0.96 per cent, higher at 4840.3 points.

On Wednesday the Australian Bureau of Statistics (ABS) will release job vacancies data, for February, followed by February retail trade figures and building approvals data on Thursday.

Mr McCarthy said all eyes would be on the building approvals data.

"Any disappointments on those numbers would moderate views as to how well we're (Australia's economy is) doing."

On Wednesday the Housing Industry Association will report new home sales for January.

The corporate calendar will be dominated by annual and general meetings of junior resources companies, annual results from Sigma Pharmaceuticals and half year results from Nufarm Ltd.