Australian market set to open lower

THE Australian market looks set to open slightly lower following falls on US and European stock markets.

Traders Luke Scanlon, left, and Glenn Kessler work on the floor of the New York Stock Exchange, Wednesday, June 10, 2015. U.S. stocks are opening higher, breaking a weeklong slump. (AP Photo/Richard Drew)

THE Australian market looks set to open slightly lower following falls on US and European stock markets. At 0645 AEST on Tuesday, the June share price index futures contract was down five points at 5,538.

Wall Street and the major European stock indexes slumped after weekend talks between Greece and its creditors collapsed sparking fresh fears of a Greek default.

Locally on Tuesday, the minutes of the Reserve Bank’s June board meeting are released and RBA assistant governor (financial markets) Guy Debelle speaks at the Launch of Financial Integration in the Asia Pacific in Sydney.

Data out on Tuesday includes the ANZ-Roy Morgan weekly consumer confidence survey and Australian Bureau of Statistics new motor vehicle sales for May.

In Australia, the market on Monday closed lower despite a pick in the afternoon trade.

The benchmark S&P/ASX200 index was down 6.5 points, or 0.12 per cent, to 5,538.8 points.

The broader All Ordinaries index was down 10.6 points, or 0.19 per cent, to 5,541.5 points.