Aust stocks open flat

Local market begins little changed as investors await Fed Reserve meeting.

By Staff Reporter ·
29 Oct 2013

The Australian stock market opened flat as investors wait for the outcome of the Federal Reserve's meeting that will decide whether the central will start tapering its stimulus measures.

At the 1015 AEDT official market open, the benchmark S&P/ASX200 index was 0.18% lower at 5,431.6 points, while the broader All Ordinaries index was also 0.18% weaker at 5,427.5 points.

In equities news, Beach Energy, Drillsearch and PanAust are slated to release quarterly reports,

UGL Group, Stockland, NIB Holdings, Domino's Pizza and Dexus Property all have annual general meetings.

Meanwhile, Wesfarmers CEO Richard Goyder is scheduled to speak at an AMCHAM event in Sydney.

In Australia, the market on Monday closed at a five-year high as the major banks lifted ahead of the release of NAB and ANZ results.

The benchmark S&P/ASX200 index was 55.1 points, or 1.02%, higher at 5,441.4.

The broader All Ordinaries index was up 51.6 points, or 0.96%, at 5,437.3.