Aust stocks set for flat open

Local market expected to begin little changed despite Wall St gains.

The Australian stock market looks set to open flat despite Wall Street finishing higher with surging Facebook shares boosting sentiment.

At 0650 AEST, the September share price index futures contract was down one point at 4,992.

No major economic news is expected on Friday.

In equities news, PanAust June is expected to post quarter report and Intrepid Mines its first half results.

In Australia, the market on Thursday finished flat as weaker metals prices hit resources companies and the big banks climbed.

The market was in negative territory all day until a late rally in bank and property shares lifted the main indices.

The benchmark S&P/ASX200 index was up 0.5 points, or 0.01%, at 5,035.6 points, while the broader All Ordinaries index was down 3.5 points, or 0.07%, to 5,018.3 points.

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