Aust stocks edge higher at open

Local market lifts slightly in early trade as Wall Street pushes to new highs.

The Australian stock market opened slightly higher after Wall Street last week edged to new highs following strong banking earnings that offset a profit warning from UPS.

At the 1015 AEST official market open, the benchmark S&P/ASX200 index was 0.21% higher at 4,984.5 points, while the broader All Ordinaries index added 0.24%, to 4,969.5 points.

In economic news on Monday, the Australian Bureau of Statistics (ABS) is due to release lending finance data for May and new motor vehicle sales figures for June.

In equities news, Djerriwarrh is expected to post full year results.

On the Australia the market on Friday, strength in the resources sector pushed shares higher, although the market lost some ground after China's finance minister lowered expectations for the country's economic growth.

The S&P/ASX200 index passed 5,000 points in morning trade, as the market followed a positive lead from Wall Street early.

The benchmark S&P/ASX200 index was up 8.2 points, or 0.17%, at 4,973.9 points, while the broader All Ordinaries index was up 10.6 points, or 0.22%, to 4,957.5 points.