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Aussie shares up slightly

The Australian share market is slightly higher following soft leads from overseas markets and as the nation prepares to mark Melbourne Cup day.

US stocks finished flat due to mixed economic data while European equities pulled back overnight.

The risk-off sentiment had influenced the local share market, IG Markets market strategist Stan Shamu said.

"The market has opened relatively flat ahead of several local data releases and trading volumes are limited, partly because of Melbourne Cup," he said.

"However, the falling Aussie dollar is a positive for stocks which have a lot of foreign earnings such as the mining and retail stocks."

The Australian Bureau of Statistics will release September's retail trade figures and international trade in goods and services data later on Tuesday morning.

In other major economic news, the Reserve Bank of Australia, at 1430 AEDT, will announce its interest rate decision, which is widely expected to be unchanged.

Among the major miners, BHP Billiton gained 15 cents to $33.86, Rio Tinto added two cents to $59.80, while iron ore miner Fortescue Metals edged 0.5 cents higher to $3.355.

Woolworths continued to slide after announcing disappointing quarterly sales on Monday.

The supermarket giant dropped 81 cents, or 2.37 per cent, to $33.43, while Coles owner Wesfarmers gained five cents to $44.20.

The major banks are all up. Westpac rose six cents to $34.61, ANZ added 10 cents to $33.68, Commonwealth Bank was up 24 cents at $80.76 while National Australia Bank gained 14 cents to $35.03.

KEY FACTS


  • At 1015 AEDT on Tuesday, the benchmark S&P/ASX200 index was up 8.6 points, or 0.16 per cent, at 5,515.5 points.


  • The broader All Ordinaries index was up 8.3 points, or 0.15 per cent, at 5,493.3 points.


  • The December share price index futures contract was up four points at 5,497 points, with 5,924 contracts traded.


  • National turnover was 213 million securities worth $340 million.