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.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles