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Australian market set for flat start

The Australian share market is set for a flat start after overseas markets lost ground as investors wait for major economic news coming out of the US later in the week.

At 0705 AEST on Tuesday, the September share price index futures contract was up four points at 5,014.

In local economic news, the Australian Bureau of Statistics will release building approvals data for June on Tuesday.

Reserve Bank of Australia governor Glenn Stevens is scheduled to deliver a speech at a function in Sydney, and the Housing Industry Association publishes its trades report for June quarter.

In company news, Woolworths will release its fourth quarter sales.

Laboratory operator ALS holds its annual general meeting in Brisbane, Drillsearch Energy releases its quarterly report and education firm Navitas releases its full year financial results.

The market on Monday was pushed higher by shares in the four major banks.

The benchmark S&P/ASX200 index gained 4.3 points, or 0.09 per cent, to 5046.3, and the broader All Ordinaries index added 4.1 points, or 0.08 per cent, to 5027.9.