Aust stocks open stronger

Local market pierces 5500 threshold as pharmaceutical sector buoys Wall Street.

The Australian sharemarket notched up a fresh five-and-a-half year high at the open, after Wall Street was pushed upward by solid earnings and major pharmaceutical sector deals.

At the 10.15am (AEST) official market open, the benchmark S&P/ASX200 index rose 24.8 points, or 0.45%, at 5,504.1 points, while the broader All Ordinaries index gained 23.6 points, or 0.43%, to 5,490.7 points.

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