Aust stocks open 1% lower

The Australian stock market lost more than 1% at the open as the fallout continues from the US Federal Reserve's signalling it could soon start winding back its stimulus measures.

The Australian stock market lost more than 1% at the open as the fallout continues from the US Federal Reserve's signalling it could soon start winding back its stimulus measures.

At the 1015 AEST official market open, the benchmark S&P/ASX200 index fell 1.03 per cent to 4,690 points, while the broader All Ordinaries index shed 1.04% to 4,674.8 points.

No major economic news is expected on Monday.

In equities news, Metcash released its full-year results, which showed a lift in net profit and revenue.

In Australia, the market on Friday suffered a second straight day of losses.

The benchmark S&P/ASX200 index was down 19.6 points, or 0.41%, at 4,738.8 points, while the broader All Ordinaries index was down 20.1 points, or 0.42%, to 4,723.8 points.

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