Aust stocks set to open flat

Market tipped to begin little changed as escalating violence in Iraq spooks investors.

The Australian sharemarket looks set to open flat after escalating violence in Iraq spooked investors and falling iron ore prices continued to pressure mining stocks at the end of last week.

At 6.45am (AEST), the June share price index futures contract was up one point at 5,406.

Locally, in economic news on Monday, Reserve Bank of Australia assistant governor (Economic) Christopher Kent delivers a speech to the Wall Street Journal's Labour Market Developments gathering in Sydney.

Indian High Commissioner Biren Nanda, South Australian Trade Minister Martin Hamilton-Smith and Australian India Institute director Amitabh Mattoo are speaking at CEDA event on India's economy in Adelaide.

The Housing Industry Association issues its state and national outlook.

No major equities news is expected.

In Australia, the market on Friday closed at its lowest level in two months.

The benchmark S&P/ASX200 index was down 23.7 points, or 0.44%, at 5,403.1 points, while the broader All Ordinaries index was down 24.2 points, or 0.45%, to 5,383.7 points.