Australian market set to open higher

THE Australian market looks set to open higher after Wall Street finished a choppy session with solid gains.

THE Australian market looks set to open higher after Wall Street finished a choppy session with solid gains as investors looked ahead to the Federal Reserve’s policy meeting this week.

At 0645 AEST on Monday, the September share price index futures contract was up 25 points at 5,093.

No major economic news is expected on Monday.

In equities news, the Australian Competition and Consumer Commission is expected to release its decision on Foxtel’s acquisition of a 15 per cent stake in Ten.

In Australia, the market on Friday closed lower as investors fretted over whether the US Federal Reserve will lift its benchmark interest rate this week.

The benchmark S&P/ASX200 index was down 23.9 points, or 0.47 per cent, at 5,071.1 points.

The broader All Ordinaries index was down 20.8 points, or 0.41 per cent, at 5,096.2 points.