Aust stocks open flat

Local market begins little changed after downbeat earnings weighed on Wall St.

The Australian stock market looks opened little changed after disappointing earnings from Citigroup and Best Buy's poor holiday sales pulled Wall Street back from its previous day's solid gains.

At the 1015 AEDT official market open, the benchmark index S&P/ASX200 index slipped 0.17% to 5,299.9 points, while the broader All Ordinaries index also declined 0.17% to 5,310.1.

No major economic or equities news is expected on Friday.

In Australia, the market on Thursday rallied as a sharp drop in the local currency helped give the mining giants a boost.

The benchmark S&P/ASX200 index was up 63.7 points, or 1.21%, at 5,309.1.

The broader All Ordinaries index was up 63.9 points, or 1.22%, at 5,319.4.