Aust stocks set to open higher

Local market expected to begin stronger after gains on Wall St last week.

The Australian stock market looks set to open higher following gains on Wall Street despite disappointing US jobs data.

At 0645 AEDT, the March share price index futures contract was up 37 points at 5,159.

The US Labor Department said the economy added 113,000 jobs in January, far below the 175,000 forecast.

Analysts said there were some positive aspects to the report, such as the rise in labour force participation.

No major local economic or equities news is expected on Monday.

In Australia, the market on Friday ended with a second straight gain after the central bank lifted its forecasts for economic growth.

The benchmark S&P/ASX200 index gained 35.1 points, or 0.68%, to 5,166.5.

The broader All Ordinaries index added 37.1 points, or 0.72%, to 5,184.5.

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