Aust stocks open stronger

Local market pushes higher in early trade on upbeat leads from Wall Street.

The Australian stock market opened stronger after Wall Street closed higher amid speculation the Federal Reserve may soon start curtailing its economic stimulus measures.

At the 1015 AEDT official market open, the benchmark S&P/ASX200 index increased 0.43% to 5,342.3 points, while the broader All Ordinaries index  rose 0.42% to 5,339.6 points.

No major economic news is expected on Thursday,

In equities news, BlueScope Steel, Mirvac Group, Macquarie Radio Network, Sims Metal Management, ResMed and New Hope Corporation have annual general meetings scheduled.

In Australia, the market on Wednesday fell significantly as investors took profits and considered the possibility the Federal Reserve would soon start curtailing its economic stimulus program.

The benchmark S&P/ASX200 index dropped 73.9 points, or 1.37%, to 5,319.2 points.

The broader All Ordinaries index shed 69.3 points, or 1.29%, to 5,317.5 points.

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