Aust stocks rally at open

Local market lifts almost half-a-per cent in early trade, defying weak Wall St leads

The Australian stock market opened almost 0.5% higher, shrugging off weak leads from Wall Street on disappointing consumer spending news.

At the 1015 AEST official market open, the benchmark S&P/ASX200 index gained 0.47% to 5,159.2 points, while the broader All Ordinaries index added 0.49% to 5,150.3 points.

In economic news, the Reserve Bank of Australia (RBA) releases the index of commodity prices for month just ended, while the Australian Bureau of Statistics (ABS) releases the business indicators for June quarter and building approvals data for July.

The TD Securities-Melbourne Institute inflation gauge for August is due out, as is National Australia Bank's quarterly online retail sales index.

In Australia, the market on Friday ended higher as investor caution prompted by possible military action against Syria eased.

The benchmark S&P/ASX200 index gained 42.6 points, or 0.84%, to 5,135 points.
The broader All Ordinaries index added 42.2 points, or 0.83%, to 5,125.3.

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