Australian market set to open higher

THE Australian market looks set to open higher, following strong gains on Wall Street.

Trader Gregory Rowe works on the floor of the New York Stock Exchange, Wednesday, Aug. 26, 2015. U.S. stocks closed sharply higher, giving the stock market its best day in close to four years. The Dow Jones industrial average climbed 619 points, or 4 percent on Wednesday. (AP Photo/Richard Drew)

THE Australian market looks set to open higher, following strong gains on Wall Street.

At 0700 AEST on Thursday, the September share price index futures contract was up 83 points at 5,208.

US stocks surged four per cent higher, ending a six-day losing streak that was caused by large falls in Chinese equities.

Locally on Thursday, the Australian Bureau of Statistics will release business investment figures for the June quarter.

In equities news, the following companies will be releasing their full year results: Nine Entertainment, Billabong, Boral, Ramsay Health Care, Flight Centre and Transfield Services.

In Australia, the market on Wednesday followed other Asian markets higher as investors continue to take advantage of bargains created by Monday’s huge fall.

The benchmark S&P/ASX200 index was up 35.5 points, or 0.69 per cent, at 5,172.8 points.

The broader All Ordinaries index was up 35.1 points, or 0.68 per cent, at 5,178.9 points.