Australian market set to open flat

THE Australian market looks set to open flat after US and European stocks mainly fell as investors booked gains ahead of the Federal Reserve’s policy meeting.

Specialist James Sciulli, right, works with traders on the floor of the New York Stock Exchange, Friday, Oct. 23, 2015. Technology shares are surging in early trading after several big-name companies reported big earnings gains. (AP Photo/Richard Drew)

THE Australian market looks set to open flat after US and European stocks mainly fell as investors booked gains ahead of the Federal Reserve’s two-day policy meeting. At 0645 AEDT on Tuesday, the share price index futures contract was up two points at 5,334.

Locally, in economic news on Tuesday, the ANZ-Roy Morgan weekly consumer confidence survey comes out.

In equities news, Beach Energy and Petsec Energy are slated to give quarterly reports, while Bega Cheese, Pacific Brands, Stockland, WorleyParsons, McMillan Shakespeare, Challenger, Noni B, and GUD Holdings have their annual general meetings.

Meanwhile, Navitas has an investor day and Link Group is due to list on the ASX.

In Australia, the market on Monday closed flat despite strong early trade.

The benchmark S&P/ASX200 index was down 3.6 points, or 0.07 per cent, at 5,348.0 points.

The broader All Ordinaries index was down 1.8 points, or 0.03 per cent, at 5,386.3 points.