Aust stocks set to open higher

Local market expected to extend gains, push further past 5000 on US leads.

The Australian stock market looks set to open higher following gains on Wall Street after a series of mediocre earnings report limited buying enthusiasm.

At 0645 AEST, the September share price index futures contract was up 14 points at 4,974.

No major economic news is expected on Tuesday.

In equities news, Oil Search is slated to post its second quarter production report while Fortescue Metals Group is expected to release its fourth quarter production figures.

In Australia, the market on Monday closed at its highest levels in two months due to strong gains in the mining and energy sectors.

The S&P/ASX200 index closed above 5,000 points for the first time since May 23.

The benchmark S&P/ASX200 index was up 29.8 points, or 0.60%, at 5,001.9 points, while the broader All Ordinaries index was up 29.5 points, or 0.59%, to 4,988.9 points.

Related Articles