Aust stocks open flat

Local market little changed despite record high closes in United States markets.

The Australian stock market opened flat, despite United States markets closing at record highs in their previous trading session.

At the 1015 AEST official market open, the S&P/ASX200 index inched down 0.13% to 5,110.2 points, while the broader All Ordinaries index edged 0.11% lower to 5,093.3 points.

IG markets analyst Evan Lucas said the announcement an election will be held one week ahead of the original date, on September 7, makes no difference to the market.

"What will increase volatility is the prospect of another hung parliament," Mr Lucas said.

"If this does eventuate on polling day, another three years of cautious trade could be on the cards, whoever wins, and the local economy really cannot handle this."

Materials were mostly higher, although the major miners moved each way.

Rio Tinto put on 0.54% to $59.63, while BHP Billiton fell 0.56% to $35.55.

Fortescue Metals increased 1.05% to $3.84.

Whitehaven Coal rose 1.28% to $1.985, while Newcrest gained 1.25% to $12.17.

In economic news, Australian Bureau of Statistics (ABS) releases June's retail trade figures, while Dun and Bradstreet puts out its business expectations survey.

Meanwhile, the TD Securities/Melbourne Institute inflation gauge for July also is due out.

No major equities news is expected.

In Australia, the market on Friday hit its highest point in more than two months as good signs from the United States overshadowed weaker local economic forecasts from the federal government.

The S&P/ASX200 index posted its tenth consecutive day of gains, taking it above 5,100 points for the first time since May 22.

The benchmark S&P/ASX200 index was up 55.3 points, or 1.09%, at 5,116.8 points, while the broader All Ordinaries index was up 51.6 points, or 1.02%, to 5,098.7 points.

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