The Australian stock market looks opened flat after Wall Street finished modestly lower following weak housing figures but European markets rose as traders digested mixed retail sales data out of Britain.
At the 1015 AEDT official market open, the benchmark S&P/ASX200 index edged up 0.06% to 5,442 points, while the broader All Ordinaries index added 0.07% to 5,453.4 points.
CMC Markets chief market analyst Ric Spooner said the Australian and US markets were still flirting with the highs of recent rallies and were undecided about going past them.
"On the positive side, there is ongoing support for BHP and Rio after their positive earnings results, which is still playing out," he said.
No major local economic news is expected on Monday.
In Australia, the market on Friday finished at its highest level in nearly six years, after a week of daily gains.
The benchmark S&P/ASX200 index gained 26.4 points, or 0.49%, to 5,438.7.
The broader All Ordinaries index added 28.1 points, or 0.52%, to 5,449.4.