Aust stocks set to open flat

Local market expected to begin little changed after Yellen testimony.

The Australian stock market looks set to open flat after international markets rose amid optimism prospective Federal Reserve chief Janet Yellen will continue economic stimulus measures.

At 0650 AEDT, the December share price index futures contract was up three points at 5,368.

In economic news on Friday, the Reserve Bank of Australia holds its Payments System board meeting.

In equities news, Lend Lease Group, MacMahon Holdings, Automotive Holdings and Perseus Mining have annual general meetings scheduled.

In Australia, the market on Thursday closed higher due to indications economic stimulus in the US is likely to run into next year.

The benchmark S&P/ASX200 index added 36.2 points, or 0.68%, to 5,355.4.

The broader All Ordinaries index gained 34.5 points, or 0.65%, at 5,352.