Aust stocks open flat
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The Australian stock market opened flat after falls on Wall Street despite strong Chinese economic data.
At the 1015 AEST official market open, the benchmark S&P/ASX200 index edged down 0.1% to 5,050.2 points, while the broader All Ordinaries index inched 0.07% lower to 5,035.4 points.
IG analyst Evan Lucas said company earnings would affect the market this week, as reporting season starts in earnest.
"With local macro data now out of the way – having seen the prints from the RBA, retail sales, Australia’s trade balance and the employment change inside five days last week – this week is all about corporate earnings," Mr Lucas said.
"With earning season now the focus, stock picking should become clearer."
Materials were mostly higher, with the major miners gaining.
BHP Billiton rose 2.89% to $36.98, while Rio Tinto added 2.89% to $61.99.
Fortescue Metals lifted 3.74% to $4.16.
Whitehaven Coal rose 3.06% to $2.02 and Newcrest gained 4.79% to $12.03 despite slumping to a $5.78 billion full-year loss.
In the energy sector, Santos lifted 1.01% to $13.94, Oil Search was flat at $7.94 and Woodside rose 0.73% to $38.65.
In economic news on Monday, the Australian Bureau of Statistics (ABS) releases the lending finance figures for June.
In Australia, the market on Friday closed slightly lower after being dragged down by the banks despite a late rally.
The benchmark S&P/ASX200 index was down 9.6 points, or 0.19%, at 5,055.2 points, while the broader All Ordinaries index was down 8.3 points, or 0.16%, to 5,038.8 points.
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