Aust stocks open stronger

Local market bucks weak Wall Street lead to push higher in early trade.

The Australian stock market pushed half a% higher at the open, despite a negative lead from Wall Street which fell following disappointing United States jobs data.

At the 1015 AEDT official market open, the benchmark S&P/ASX200 index increased 0.5% to 5,095.8, while the broader All Ordinaries index added 0.46% to 5,112.3.

The US economy added 175,000 private-sector jobs in January, slowing from the 227,000 increase in December, payrolls firm ADP reported.

Analysts had forecast the addition of 178,000 net new jobs last month.

In local economic news on Thursday, the Australian Bureau of Statistics releases the retail trade figures for December/December quarter and international trade in goods and services data for December.

The National Australia Bank's business survey for the December quarter is also due out.

In Australia, the market on Wednesday lost early gains to again close lower as investors remain cautious ahead of the release of corporate earnings reports.

The benchmark S&P/ASX200 index dropped 26.8 points, or 0.53%, to 5,070.3.

The broader All Ordinaries index lost 25.4 points, or 0.5%, to 5,088.7.

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