Aust stocks set to open lower

Soft start tipped for local market after weak earnings reports weighed on Wall Street.

The Australian sharemarket looks set to open lower after Wall Street tumbled following some disappointing earnings reports in a move that some analysts attributed to profit taking.

At 6.45am (AEST) on Monday, the September share price index futures contract was down 8 points at 5,522.

In local economic news on Monday, Business Council of Australia president Catherine Livingstone is scheduled to speak at Australia-Israel Chamber of Commerce lunch in Sydney.

In major equities news, ANZ chairman David Gonski and other business leaders are slated to give addresses at a Governance Institute of Australia lunch, also in Sydney, while Duketon Mining (DKM) lists on the ASX.

In Australia, the market on Friday, closed flat, with some investors booking profits, after a seven-day run of gains.

The benchmark S&P/ASX200 index was down 4.3 points, or 0.08%, at 5,583.5 points, while the broader All Ordinaries index was down 2.6 points, or 0.05%, to 5,574.2 points.

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