Aust stocks to open higher

Local market expected to begin stronger as earnings reports boost Wall St.

The Australian stock market looks set to open higher after Wall Street mostly gained following some solid retail earnings reports and with help from bond yields, which retreated from recent peaks.

At 0645 AEST, the September share price index futures contract was up seven points at 5,058.

In economic news on Wednesday, the Westpac-Melbourne Institute Leading Indexes of Economic Activity is due out.

In equities news, Suncorp Group (SUN), Boral (BLD), Asciano (AIO), PaperlinX (PPX), Super Retail Group (SUL), The Reject Shop (TRS), Seek (SEK) and iiNet (IIN) full are among the companies expected to post full year results.

Adelaide Brighton (ABC), Iluka Resources (ILU) and Woodside Petroleum (WPL) are slated to announce first half results.

In Australia, the market on Tuesday slipped as speculation about a winding back of US stimulus weighed on resource stocks.

The benchmark S&P/ASX200 index was down 34.3 points, or 0.67%, at 5,078.2 points.

The broader All Ordinaries index was 33.5 points lower, or 0.66%, at 5,068.8 points.

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