Aust stocks open lower

Local market falls 0.4 per cent in early trade after weak Wal-Mart results weigh on Wall Street.

The Australian sharemarket opened weaker after weak earnings from US retail giant Wal-Mart contributed to a sharp drop on Wall Street.

At the 10.15am (AEST) official market open, the benchmark S&P/ASX200 index shed 22.5 points, or 0.41%, to 5,488.3 and the broader All Ordinaries index also gave up 23.5 points, or 0.43%, to 5,466.7 points.

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Staff Reporter

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