Aust stocks open flat

Local market begins little changed despite Wall St gains at the end of last week.

By Staff Reporter ·
7 Oct 2013

The Australian stock market opened flat, despite Wall St ignoring the fact the US government's partial shutdown prevented the release of economic data to close last week higher.

At the 1015 AEST official market open, the benchmark S&P/ASX200 index was 0.01% lower at 5,207.3 points, while the broader All Ordinaries index edged up 0.01% to 5,206.3 points.

In economic news on Monday, the Australian Industry Group/Housing Industry Association performance of construction index (PCI) for September hit a three-year high, while the ANZ job advertisements series for the same month is also due out.

No major equities news is expected.

In Australia, the market on Friday closed lower as investors become increasingly concerned that the budget impasse in the United States may lead to the US defaulting on its debts.

The benchmark S&P/ASX200 index dropped 26.9 points, or 0.51%, to 5,208 points.

The broader All Ordinaries index lost 26.1 points, or 0.5%, to 5,205.9 points.