The Australian stock market is expected to open slightly higher on Monday despite a mixed performance on United States markets on Friday.

Fortescue foreshadows a shake-out among iron ore producers as new global supply will sharply cut the price of the commodity.

Margin pressures are mounting for Australian producers, fresh inflation data suggests.

GrainCorp has boosted its malting operations, agreeing to buy maltster GermanMalt GmbH & Co for an enterprise value of about $77 million.

The White House and top lawmakers are scrambling to reach a deal to save the world's richest country from a disastrous default on its debt.

Mixed earnings reports -- with General Electric and McDonald's beating expectations, while Caterpillar fell short -- held back US markets on Friday.