Aust stocks set to open stronger

Local market expected to push higher in early trade on sharp EU gains.

The Australian stock market looks set to open higher after European bourses made sharp gains on upbeat Chinese and eurozone economic data, and receding investor concerns over a United States intervention in Syria.

Wall Street was closed for the Labor Day public holiday.

At 0645 AEST, the September share price index futures contract was up 24 points at 5,208.

In economic news on Tuesday, the Reserve Bank of Australia holds its monthly board meeting and makes its interest rate decision.

The Australian Bureau of Statistics releases retail trade figures for July, the Balance of Payments and International Investment Position for the June quarter, and government finance statistics for the June quarter.

No major equities news is expected.

In Australia, the market on Monday closed 1% higher due to stronger-than-expected Chinese manufacturing data.

The benchmark S&P/ASX200 index was up 53.3 points, or 1.04% at 5,188.3.

The broader All Ordinaries index was up 52.7 points, or 1.03%, at 5,178.

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