Australian market set for gains

The Australian share market is set to open higher after a rise on Wall Street overnight.

Disappointing US economic data pushed Wall Street higher on hopes the US central bank will continue with its economic stimulus program.

At 0709 AEST on Friday, the June share price index futures contract was up 19 points at 4,961.

In local economic news on Friday, the Reserve Bank of Australia publishes financial aggregates for April.

In company news, Origin Energy managing director Grant King is among the speakers at the Stockbrokers Association of Australia annual conference in Sydney.

The local market closed at a six-week low on Thursday, with the benchmark S&P/ASX200 index down 44 points at 4,930.7 and the broader All Ordinaries index down 42.1 points at 4,917.1.

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