Aust stocks set to open lower

Local market expected to begin weaker on mixed international leads.

The Australian stock market looks set to open lower following mixed performances on international bourses as Europe looks to be emerging from recession.

At 0645 AEST, the September share price index futures contract was down nine points at 5,111.

In economic news, the Australian Bureau of Statistics is due to release Average Weekly Time Earnings data for the six months to May.

In equities news, Wesfarmers (WES), the Goodman Group (GMG), Platinum Asset Management (PTM), AVJennings and Dexus Property Group (DXS) are expected to post full year results, while AMP (AMP) is slated to announce first half results.

In Australia, the market on Wednesday closed flat after strong earnings reports from major companies failed to hearten investors.

The market was subdued on Wednesday despite market heavyweight Commonwealth Bank posting a record profit of $7.68 billion.

The benchmark S&P/ASX200 index dropped 0.3 points, or 0.01%, to 5157.4 points.

The broader All Ordinaries index shed 0.6 points, or 0.01%, to 5141 points.

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