AUSTRALIAN shares opened higher today, following Wall Street's modest gains on Friday as hope built for a resolution to Greece's debt crisis.
The benchmark S&P/ASX 200 index was up 25.8 points, or 0.57 per cent, at 4510.70, while the broader All Ordinaries index was 23.7 points (0.52 per cent) higher at 4574.80.
US stocks closed higher last week, snapping a six-week losing streak, on hopes for a resolution to the Greek debt crisis, but the tech sector fell.
The Dow Jones Industrial Average finished up 42.84 points (0.36 per cent) at 12,004.36, its fourth gain in the last five sessions. For the week, the blue-chip index inched up 0.4 per cent. It still remains down 6.3 per cent since notching a three-year closing high on April 29.
The S&P 500 index rose 3.86 points (0.3 per cent) to 1271.50, driven by gains in the financial, telecom and consumer discretionary sectors. The broad index barely snapped a six-week losing skid, rising 0.52 points for the week.
The Nasdaq Composite Index slipped 7.22 points (0.28 per cent) to 2616.48, its lowest close this year. The technology-oriented index has declined in nine of the last 11 sessions and has recorded five consecutive weeks of declines.
With Dow Jones Newswires
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