SYDNEY: The Australian sharemarket opened the week slightly higher ahead of a public holiday in the US, with gains curbed as financial stocks lost some early ground.
At the 10.15am (AEST) official market open, the benchmark S&P/ASX200 index was up 7.2 points, or 0.13 per cent, at 5,671.9 points, while the broader All Ordinaries index was up 7.1 points, or 0.13 per cent, at 5,675.3 points.
CMC chief market analyst Ric Spooner said the local market was likely to remain relatively flat during the session ahead of tonight’s Memorial Day public holiday in the US.
“World equity markets also appear to have taken Janet Yellen’s confirmation that the Fed is likely to hike rates this year in their stride,” he said.
Mr Spooner also said the situation with Greece’s debt looks as though it could be moving close to crunch point, which will likely figure in traders’ risk calculations this week.
Energy stocks led the market higher, adding 0.69 per cent as a sector.
Oil Search retreated 0.13 per cent to $7.60.
Santos gained 1.24 per cent to $8.19, while Woodside Petroleum added 0.36 per cent to $35.83.
Consumer staples rose 0.42 per cent.
Woolworths lost 0.14 per cent to $28.14, while Wesfarmers gained 0.81 per cent to $43.68.
Materials edge up 0.01 per cent.
