Aust stocks set to open higher

Local market tipped for strong start as US Senate leaders reach debt deal.

The Australian stock market looks set to open higher after United States Senate leaders reached a deal for a temporary budget and to extend the debt ceiling, ending the government shutdown.

At 0645 AEDT, the December share price index futures contract was up 11 points at 5,263.

In economic news on Thursday, the Australian Bureau of Statistics releases September international merchandise imports figures, while the National Australia Bank's business survey for the September quarter is due out.

In equities news, Woodside Petroleum is expected to post third quarter reports, Fortescue Metals Group (FMG) is due to release its first quarter production report, while Newcrest (NCM) and Atlas Iron (AGO) are slated to release September quarter reports.

Ten Network Holdings (TEN) is expected to release full year results while Ansell (ANN) has an annual general meeting scheduled.

In Australia, the market on Wednesday recovered from opening losses to close slightly higher on cautious optimism Congress leaders were heading to an agreement on a temporary deal to raise the US debt ceiling.

The benchmark S&P/ASX200 index gained 3.8 points, or 0.07%, to 5,262.9.

The broader All Ordinaries index added 5.2 points, or 0.1%, to 5,264.4.