Australian market set to open lower

THE Australian market looks set to open lower after Wall Street international markets fell amid concern over Greece’s debt.

THE Australian market looks set to open lower after Wall Street international markets fell amid concern over Greece’s debt and its possible exit from the eurozone.

At 0645 AEST on Tuesday, the June share price index futures contract was down 35 points at 5,344.

In local economic news on Tuesday, Reserve Bank of Australia governor Glenn Stevens is due to speak at a function hosted by Official Monetary and Financial Institutions Forum in London, while back home, the central bank releases financial aggregates for May.

The Housing Industry Association releases May’s new home sales figures and the ANZ-Roy Morgan’s weekly consumer confidence survey is also due out.

No major equities news is expected.

In Australia, the market on Monday fell more than two per cent as investors focused on Greece’s debt problem and possible imminent exit from the eurozone.

The benchmark S&P/ASX200 index was down 123.4 points, or 2.23 per cent, at 5,422.5 points, while the broader All Ordinaries index fell 119.5 points, or 2.16 per cent, to 5,416.6 points. AAP cdh