Aust stocks open higher

Local market begins week stronger as American investors await deluge of US earnings.

The Australian sharemarket opened higher on the back of positive leads from Wall Street at the end of last week where American investors are heading into the start of the US reporting season in an optimistic mood.

At the 10.15am (AEST) official market open, the benchmark  S&P/ASX200 index was 18.1 points, or 0.33%, higher at 5,504.9 points, while the broader All Ordinaries index rose 16.2 points, or 0.3%, at 5,490.8 points.

This week's US earnings calendar includes reports from banking giants including JPMorgan Chase and Goldman Sachs, as well as Johnson & Johnson, Yahoo, Intel, IBM and General Electric.

In local economic news, the Australian Bureau of Statistics will release lending finance and credit card data for May.

Shareholders in department store chain David Jones are also meeting in Sydney to vote on a proposed $2.2 billion takeover by South African retailer Woolworths.

In Australia on Friday, the benchmark S&P/ASX200 index was 22.4 points, or 0.41%, higher at 5,486.8.

The broader All Ordinaries index was up 20.3 points, or 0.37%, at 5,474.6.

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