Australian stocks to extend leads

After two days of solid gains, Australian stocks are expected to open stronger following strong leads from abroad.

The Australian stock market looks set to open higher after positive rallies on overseas markets as traders digested news of an unexpected drop in German unemployment, solid data from the US and comments from a top Federal Reserve official that the central bank would not hastily end its stimulus program..

At 0645 AEST on Friday, the September share price index futures contract was up 26 points at 4,800.

In economic news on Friday, the Reserve Bank of Australia is due to release financial aggregates for May.

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