Aust stocks open flat

Local market begins flat as Dow, S&P 500 hit mew highs on Yellen testimony.

The Australian stock market opened little changed as the Dow and the S&P 500 pushed to fresh all-time highs on Wall Street amid optimism prospective Federal Reserve chief Janet Yellen will continue economic stimulus measures.

At the 1015 AEDT official market open, the The benchmark S&P/ASX200 index lost 0.1% to 5,350.3 points, while the broader All Ordinaries index edged down 0.07% to 5,348.1 points.

In economic news on Friday, the Reserve Bank of Australia holds its Payments System board meeting.

In equities news, Lend Lease Group, MacMahon Holdings, Automotive Holdings and Perseus Mining have annual general meetings scheduled.

In Australia, the market on Thursday closed higher due to indications economic stimulus in the US is likely to run into next year.

The benchmark S&P/ASX200 index added 36.2 points, or 0.68%, to 5,355.4.

The broader All Ordinaries index gained 34.5 points, or 0.65%, at 5,352.

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