Australian market set to open flat

THE Australian market looks set to open flat following falls in European stocks and a mixed performance on Wall Street.

THE Australian market looks set to open flat following falls in European stocks and a mixed performance on Wall Street amid greater expectations of a US interest rate rise. At 0645 AEDT on Wednesday, the December share price index futures contract was up two points at 5,078.

Locally, in economic news on Wednesday, the Westpac/Melbourne Institute Survey of Consumer Sentiment is due out.

And, the Mining safety conference continues in Perth.

In equities news, DuluxGroup is expected to post full year results while Breville Group, Servcorp, Webjet, Computershare, Flight Centre, Fortescue Metals, Navitas and Mount Gibson Iron all have annual general meetings scheduled.

In Australia, on Tuesday, positive Australian consumer data and better-than-expected housing figures failed to stop the share market from closing sharply lower.

The benchmark S&P/ASX200 index was down 20.3 points, or 0.40 per cent, at 5,099.2 points.

The broader All Ordinaries index was down 22.6 points, or 0.44 per cent, at 5,157.7 points.