Aust stocks set to open higher

Local market expected to begin week stronger on upbeat Wall Street leads.

The Australian sharemarket looks set to open higher, following Wall Street gains on better-than-expected US consumer incomes and spending data and as investors shrug off sabre-rattling over Ukraine.

At 06.45 (AEDT), the June share price index futures contract was up 12 points at 5,5368.

In local economic news, the Reserve Bank of Australia is due to release financial aggregates for February, the TD Securities-Melbourne Institute inflation gauge for March is due out as is the HIA New home sales for February.

No major equities news is expected.

In Australia, the market on Friday ended the week on a positive note, as stronger commodity prices boosted the resources sector and the major banks also rose.

The benchmark S&P/ASX200 index was up 16.8 points, or 0.31%, to 5,366.9 points.

The broader All Ordinaries index gained 17.1 points, or 0.32%, to 5,376.8 points.


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