Aust stocks set to open higher

Local market expected to begin stronger following gains on global bourses.

The Australian stock market looks set to open higher following gains on international markets as traders reacted strongly to signs of a deal in Washington to avoid a dilapidating US debt default.

At 0645 AEDT on Friday, the December share price index futures contract was up 66 points at 5,199.

No major economic news is expected on Friday.

Meanwhile, ASIC chairman Greg Medcraft is scheduled to speak at an American Chamber of Commerce in Australia lunch, in Sydney.

In equities news, the OzForex Group (OFX) lists on Australian Securities Exchange.

In Australia, the market on Thursday fell with commodity price driving local stocks lower despite the release of positive jobs numbers.

The benchmark S&P/ASX200 index was 5.9 points, or 0.11%, lower at 5,147.1.

The broader All Ordinaries index was down 5.4 points, or 0.1%, at 5,146.2.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles