Australian market set to open higher

The Australian market looks set to open higher following gains on Wall Street after Federal Reserve Chair Janet Yellen's comments eased investor concerns about the capacity of the economy to absorb a gradual rise in interest rates.

At 0645 AEDT on Thursday, the share price futures index was up 44 points at 4,754.

Locally, no major economic news is expected on Thursday.

In equities news, Rio Tinto is slated to post full year results while Cochlear, Suncorp, Transurban, Mirvac, ASX, Tassal Group and Goodman Group are all expected to release half year results.

In Australia, the market on Wednesday suffered another heavy fall, wiping almost $20 billion from its value and taking investors into bear territory.

The benchmark S&P/ASX200 index was was down 56.4 points, or 1.17 per cent, at 4,775.7.

The broader All Ordinaries index fell 56.1 points, or 1.15 per cent, to 4,826.5.

Market Data

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