Aust stocks open 1% higher

Local market rallies in early trade on strong Wall St leads on US jobs data.

The Australian stock market rallied more than 1% at the open after gains on Wall Street, helped by better-than-expected US jobs growth.

At the 1015 AEST official market open, the benchmark S&P/ASX200 index lifted 1.04% to 4,793.6 points, while the broader All Ordinaries index was 1.02% stronger at 4,776 points.

In economic news on Thursday, Reserve Bank of Australia deputy governor Philip Lowe is scheduled to address the Second Conference on Global Financial Stability and Prosperity in Sydney.

The Australian Bureau of Statistics is due to release May's building approvals figures.

And the NSW government is expected to make an announcement regarding casino bids by Echo Entertainment and James Packer's Crown group.

No major equities news is expected.

In Australia, the market on Wednesday ontinued its rollercoaster start to the new financial year, dropping more than 1.75% and more than $26 billion wiped from its value.

The benchmark S&P/ASX200 index was down 89.9 points, or 1.86%, at 4,744.1 points, while the broader All Ordinaries index was down 82.5 points, or 1.72%, to 4,727.8 points.