Aust stocks open higher

Local market lifts following modest gains on European markets as Wall Street closed.

The Australian sharemarket opened higher following modest gains on European markets overnight, in the absence of a lead from Wall Street.

At the 10.15am (AEST) official market open, the benchmark S&P/ASX200 index added 13.8 points, or 0.25%, to 5,526.6 points, while the broader All Ordinaries index gained 13.9 points, or 0.25%, to 5,504.3 points.

In earlier trade, the benchmark index hit 5527.2, its highest point in four weeks. On April 29, the index reached as high as 5,554.5 points.

The New York and London markets were closed for public holidays.

In company news, OZ Minerals has its annual general meeting in Melbourne and analytical services firm ALS Group will release its full-year results.

The market rose on Monday, with the benchmark S&P/ASX200 index adding 20 points to 5,512.8 points and the broader All Ordinaries index gained 20.1 points to 5,490.4 points.

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