Aust stocks open lower

Local market falls after choppy trade on Wall Street as investors watch Iraq conflict.

The Australian sharemarket has opened lower after choppy trade on Wall Street overnight as investors watch the unfolding conflict in Iraq.

At the 10.15am (AEST) official market open, the S&P/ASX200 index fell 16.1 points, or 0.3%, to 5,396.2 points, while the broader All Ordinaries index shed 16 points, or 0.3%, to 5,374.6 points.

Locally, in economic news the Reserve Bank of Australia releases the minutes of its monthly board meeting, while the Australian Bureau of Statistics issues May's new motor vehicle sales figures and the merchandise imports data for the same month.

In equities news, Woolworths Holdings holds a general meeting in Cape Town, South Africa, regarding a David Jones takeover.

In Australia, the market yesterday recovered from early falls to close higher as investors brushed off worries about iron ore prices.

The benchmark S&P/ASX200 index gained 7.2 points, or 0.13%, to 5,412.3 points, while the broader All Ordinaries index rose 6.9 points, or also 0.13%, to 5,390.6 points.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free