Aust stocks lift at open
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The Australian stock market opened almost 0.5% higher, climbing to its highest point in almost seven weeks, following gains on Wall Street markets as investors shrugged off a report showing poor industrial output in January as mainly weather-related.
At the 1015 AEDT official market open, the benchmark S&P/ASX200 index was 0.44% at 5,379.9 points, while the broader All Ordinaries index increased 0.46%, to 5,391.7 points.
The benchmark index earlier hit as high as 5,380.7, its highest point since hitting 5,383 points on January 2.
The Dow Jones Industrial Average jumped 126.80 (0.79%) to 16,154.39 points at the end of last week.
In local economic news on Monday, the Australian Bureau of Statistics releases new motor vehicle sales figures for January.
In Australia, the market on Friday ended its best week of 2014, with gains following a good lead from the US and encouraging company earnings reports.
The benchmark S&P/ASX200 index added 48.2 points, or 0.91%, to 5,356.3 points.
The broader All Ordinaries index gained 48.2 points, or 0.91%, to 5,366.9 points.
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