Aust stocks open flat

Local market little changed in early trade despite positive Wall St leads.

The Australian stock market opened flat despite Wall Street finishing higher with surging Facebook shares boosting sentiment.

At the 1015 AEST official market open, the benchmark S&P/ASX200 index edged up 0.03% to 5,036.9 points, while the broader All Ordinaries index added 0.03%to 5,019.8 points.

No major economic news is expected on Friday.

In equities news, PanAust June is expected to post quarter report and Intrepid Mines its first half results.

In Australia, the market on Thursday finished flat as weaker metals prices hit resources companies and the big banks climbed.

The market was in negative territory all day until a late rally in bank and property shares lifted the main indices.

The benchmark S&P/ASX200 index was up 0.5 points, or 0.01%, at 5,035.6 points, while the broader All Ordinaries index was down 3.5 points, or 0.07%, to 5,018.3 points.

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