Aust stocks to open flat

Local shares receive mixed lead, likely to open broadly steady.

The Australian market looks set to open flat after a mixed performance on Wall Street in its last session.

At 0645 AEDT, the March share price index futures contract was down two points at 5,265.

In economic news, the TD Securities Monthly Inflation Gauge for December is due to be released.

No major equities news is expected.

In Australia, the market on Friday closed lower, despite solid gains in the resources sector.

The benchmark S&P/ASX200 index was 3.2 points, or 0.06%, lower at 5,305.9.

The broader All Ordinaries index was down 3.0 points, or 0.06%, at 5,316.4.

Materials and energy sectors were buoyed by strong production reports from Rio Tinto and Woodside Petroleum late last week, and a slide in the Australian dollar.

Offshore, at Friday's closing bell, the Dow Jones Industrial Average was up by 0.20% to 16,450.54, while the the S&P 500 fell 0.40% to 1,838.50, pulled down by disappointing earnings from Citigroup and Best Buy's poor holiday sales.

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