Aust stocks open weaker

Local market begins week lower as escalating violence in Iraq spooks investors.

The Australian sharemarket opened weaker after escalating violence in Iraq spooked investors, while falling iron ore prices continue to weigh on mining stocks.

At the 10.15am (AEST) official market open, the S&P/ASX200 index lost 19.1 points, or 0.35%, at 5,386 points, while the broader All Ordinaries index fell 18.2 points, or 0.34%, to 5,365.5 points.

Locally, in economic news, Reserve Bank of Australia assistant governor (Economic) Christopher Kent delivers a speech to the Wall Street Journal's Labour Market Developments gathering in Sydney.

Indian High Commissioner Biren Nanda, South Australian Trade Minister Martin Hamilton-Smith and Australian India Institute director Amitabh Mattoo are speaking at CEDA event on India's economy in Adelaide.

The Housing Industry Association issues its state and national outlook.

No major equities news is expected.

In Australia, the market on Friday closed at its lowest level in two months.

The benchmark S&P/ASX200 index was down 23.7 points, or 0.44%, at 5,403.1 points, while the broader All Ordinaries index was down 24.2 points, or 0.45%, to 5,383.7 points.

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