Australian market set to open lower

The Australian market looks set to open lower after Wall Street sank sharply amid worries about interest rates and persistent fears of a global slowdown.

At 0645 AEDT on Tuesday, the share price futures index was down 91 points at 4,832.

In local economic news on Tuesday, the ANZ-Roy Morgan weekly consumer confidence survey, the National Australia Bank's monthly business survey for January and the Housing Industry Association's new home sales figures for December are all due out.

No major equities news is expected.

In Australia, the market on Monday broadly flat as falls across the banking sector were offset by gains in resource companies.

The benchmark S&P/ASX200 index was down 0.8 points, or 0.02 per cent, at 4,975.4 points.

The broader All Ordinaries index lost 3.5 points, or 0.07 per cent, to 5022.1 points.

Market Data

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