Australian market set to open higher

THE Australian market looks set to open higher, following solid gains on Wall Street.

Trader John Panin works on the floor of the New York Stock Exchange, Monday, June 22, 2015. U.S. stocks advanced Monday on hopes of a breakthrough in talks between Greece and its lenders. (AP Photo/Richard Drew)

THE Australian market looks set to open higher, following solid gains on Wall Street.

At 0653 AEST on Tuesday, the September share price index futures contract was up 21 points at 5,576.

US and European stock markets were higher increased optimism for a deal could soon be reached that could avert a Greek default. Locally on Tuesday, the ANZ-Roy Morgan weekly consumer confidence survey is due out and the Australian Bureau of Statistics releases its residential property prices data for the March quarter.

In Australia, the market on Monday was higher after it recovered from early falls, raising hopes that the recent sell-off might have ended.

The benchmark S&P/ASX200 index was up 13.2 points, or 0.24 per cent, at 5,610.2 points.

The broader All Ordinaries index was up 11.6 points, or 0.21 per cent, at 5,603.1 points.