Aust stocks open 1% higher

Local market follows Wall St leads higher as US earnings season commences.

The Australian stock market opened higher following gains on Wall Street and European bourses as aluminium giant Alcoa kicked of the US earnings season.

At the 1015 AEST official market open, the benchmark S&P/ASX200 rose 0.98% to 4,856.7 points, while the broader All Ordinaries index lifted 0.93% higher to 4,842.3 points.

In economic news, the National Australia Bank's monthly business survey for June is due for release.

Telstra Group Managing Director Enterprise and Government Paul Geason is scheduled to speak at an American Chamber of Commerce in Australia lunch in Sydney.

No major equities news is expected.

At the previous session's close the benchmark S&P/ASX200 index was down 32.2 points, or 0.67%, at 4,809.5 points, while the broader All Ordinaries index was down 28.8 points, or 0.60%, to 4,797.6 points.