Aust stocks set to open higher

Local market expected to follow strong US gains despite IMF growth cuts.

The Australian stock market looks set to open higher following gains on United States and European bourses despite the IMF downgrading its global economies' growth forecast.

The International Monetary Fund trimmed its world economic growth expectations for 2013 to 3.1% from the April forecast of 3.3%.

At 0656 AEST on Wednesday, the September share price index futures contract was up 15 points at 4,856.

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