Australian market set to open lower

THE Australian market looks set to open lower, following the negative lead of US and European stocks ahead of the Federal Reserve’s interest rate decision.

Trader Greg Mulligan works 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 lower, following the negative lead of US and European stocks ahead of the Federal Reserve’s interest rate decision.

At 0645 AEDT on Wednesday, the share price index futures contract was down 20 points at 5,326.

Locally, in economic news on Wednesday, the Australian Bureau of Statistics’ consumer price index for September quarter comes out. In equities news, National Australia Bank releases its full year results and Senex Energy posts its first quarter figures.

Dick Smith, Transfield Services, UGL, Federation Centres, Tassal, Virtus Health and Mortgage Choice are among the companies holding their annual general meeting.

Meanwhile, Scentre Group chief executive Peter Allen and Stockland CEO Mark Steinert are slated to speak at an Australia Israel Chamber of Commerce lunch in Sydney.

In Australia, the market on Tuesday closed flat as traders sat on the sidelines ahead of the Federal Reserve’s meeting.

The benchmark S&P/ASX200 index was down 1.8 points, or 0.03 per cent, at 5,346.2 points.

The broader All Ordinaries index was down 1.7 points, or 0.03 per cent, at 5,384.6 points.