Aust stocks to open higher

Local market tipped to lift on strong EU leads, despite Wall St being closed.

The Australian stock market looks set to open higher following gains on most European markets after the eurozone and British central banks signalled that stimulus measures would continue for some time and ahead of official US employment figures for June.

At 0642 AEST, the September share price index futures contract was up 35 points at 4,783.

In economic news on Friday, the Australian Industry Group/Housing Industry Association performance of construction index (PCI) for month just ended is due out.

No major equities news is expected.

In Australia, the market on Thursday closed one% higher as the military overthrow of Egyptian president Mohamed Morsi boosted the price of crude oil and shares in energy companies.

The strong gains marked another day of market volatility, with shares shifting between big losses and big gains each day this week.

The benchmark S&P/ASX200 index on Thursday was up 50.6 points, or 1.07%, at 4,794.7 points, while the broader All Ordinaries index was up 53.2 points, or 1.13%, to 4,781.0 points.