Aust stocks edge higher at open

Local market begins stronger after ECB rate moves pushed Wall Street to fresh records.

The Australian sharemarket opened slightly higher after the European Central Bank launched aggressive measures to prevent deflation and stimulate growth.

The moves sent Wall Street to new record highs, while European markets got a temporary boost.

At the 10.15am (AEST) official market open, the benchmark S&P/ASX200 index rose 17.2 points, or 0.32%, to 5,454.1 points, while the broader All Ordinaries index gained 16.2 points, or 0.3%, to 5,435.9 points.

Strong performances from the euro, US Treasuries, and equities on the back of the ECB news helped  give Australian equities a boost on Friday morning, IG Markets market strategist Stan Shamu said.

"The main sector to benefit from this is the banks. Gold miners are doing well too," he said.

"Gold snapped its losing streak after the announcement of further stimulus package.

"The market is anticipating these measures, at least in the short term, to improve Europe's economy."

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