Aust stocks open weaker

Local market begins slightly lower despite upbeat leads from Wall St at end of last week.

The Australian sharemarket looks set to open higher following gains on Wall Street in a quiet day of trading with strong earnings from Nike helping to offset a profit warning from DuPont.

At 6.45am (AEST), the September share price index futures contract was up eight points at 5,424.

Locally, in economic news on Monday, the Reserve Bank of Australia (RBA) is due to release financial aggregates data for May, the TD Securities-Melbourne Institute posts its June inflation gauge and the HIA New home sales figures for May are due out.

No major equities news is expected.

In Australia, the market on Friday ended the week with a fall as investor caution resulted in muted trade.

The benchmark S&P/ASX200 index dropped 19.2 points, or 0.35%, to 5,445.1.

The broader All Ordinaries index shed 17.7 points, or 0.32%, to 5,429.1.

AAP

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