Australian market set to open lower

THE Australian market looks set to open slightly lower after US and most European markets were closed for public holidays on Monday.

THE Australian market looks set to open slightly lower after US and most European markets were closed for public holidays on Monday.

At 0655 AEST on Tuesday, the June share price index futures contract was down four points at 5,722.

Paris’ leading CAC 40 index ended Monday was down 25.72 points or 0.50 per cent at 5,117.17 points, with trading volumes quite low.

Locally on Tuesday, the ANZ-Roy Morgan weekly consumer confidence index is released.

And in equities news, poker machine supplier Aristocrat Leisure releases its half year results and Boart Longyear and Chinalco Yunnan Copper Resources both hold their annual general meetings. In Australia, the stock market on Tuesday enjoyed its strongest gain in a month as bargain hunters moved in and merger and acquisition activity stirred investor interest.

The benchmark S&P/ASX200 index was up 56.8 points, or one per cent, at 5,721.5 points.

The broader All Ordinaries index was up 51.7 points, or 0.91 per cent, at 5,719.9 points.