Australian market set to open higher

The Australian market looks set to open higher after Wall Street rose more than one per cent amid company mergers and optimism central banks will support growth.

At 0645 AEDT on Tuesday, the June share price index futures contract was up 54 points at 5,909.

The US markets responded to Federal Reserve chair Janet Yellen on Friday saying the central bank would probably raise its interest rate this year while China's central bank chief overnight said the government could do more to support growth in the world's second biggest economy.

In local economic news on Tuesday, the Reserve Bank of Australia will release financial aggregates data, and the Roy Morgan weekly consumer confidence survey is due out, as is the Housing Industry Association's new home sales figures.

The Harper Review into competition will be released in Canberra.

In equities news, a2 Milk, software firm Touch Corp and Genetic Signatures, a developer of diagnostic tests for infectious diseases, list on the ASX.

In Australia, the market on Monday tumbled more than one per cent as the energy sector bore the brunt of fresh falls in the oil price.

The benchmark S&P/ASX200 index was down 73.8 points, or 1.25 per cent, at 5,846.1 points.

The broader All Ordinaries index fell 72.6 points, or 1.23 per cent, at 5,816.3 points.

Market Data

  • Currencies
    NamePriceChange% Chg