Aust stocks set to open higher

Local market tipped begin week stronger following Wall Street gains.

The Australian stock market looks set to open higher following gains on Wall Street markets as investors shrugged off a report showing poor industrial output in January as mainly weather-related.

At 0645 AEDT, the March share price index futures contract was up 44 points at 5,352.

The Dow Jones Industrial Average jumped 126.80 (0.79%) to 16,154.39 points at the end of last week.

In local economic news on Monday, the Australian Bureau of Statistics releases new motor vehicle sales figures for January.

In equities news, Ansell, Bendigo and Adelaide Bank, Aurizon, Ardent Leisure, Lynas, UGL and Ardent Leisure are expected to post first half results, while Australand is due to announce full year results.

In Australia, the market on Friday ended its best week of 2014, with gains following a good lead from the US and encouraging company earnings reports.

The benchmark S&P/ASX200 index added 48.2 points, or 0.91%, to 5,356.3 points.

The broader All Ordinaries index gained 48.2 points, or 0.91%, to 5,366.9 point.