Aussie stocks open lower

The Australian share market has opened lower.

At 1010 local time (AEDT), the benchmark S&P/ASX200 index was down 27.5 points, or 0.53 percent, at 5,201.5, while the broader All Ordinaries index was up 27.70 points, or 0.52 percent, at 5,283.3 points.

CMC Markets chief market strategist Michael McCarthy in a note said financial stocks will be the focus during the early trade as local entities report against a backdrop of better financial sector health in the U.S..

"Resource stocks are likely to churn as commodity prices diverge, and the session may see an abrupt turn at midday as China releases services PMI (Purchasing Managers' Index) data," McCarthy said.

At the open, ANZ was down 1.34 percent, the National Australia Bank fell 1.40 percent, Westpac lost 1.44 percent, while the Commonwealth Bank of Australia was 0.81 percent weaker.

BHP Billiton retreated 0.40 percent, rival Rio Tinto declined 0.55 percent while gold miner Newcrest surged 2.46 percent.

Oil Search was 1.35 percent lower, Santos tumbled 4.27 percent while Woodside Petroleum shed 1.07 percent.

Wesfarmers sank 0.52 percent while rival Woolworths decreased 1.62 percent.

Qantas was 1.34 percent lower while telecommunication giant Telstra fell 0.41 percent at Thursday's open. Enditem