Aust stocks set to open lower

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.