Australian market set to open lower

THE Australian market looks set to open lower after US and European stocks fell following the Federal Reserve’s decision not to lift its interest rate.

In Australia, the market on Friday closed higher.

THE Australian market looks set to open lower after US and European stocks fell following the Federal Reserve’s decision not to lift its benchmark interest rate.

At 0645 AEST on Monday, the September share price index futures contract was down 76 points at 5,072.

In economic news on Monday, the Commonwealth Bank business sales indicator for August is due out.

No major equities news is expected.

In Australia, the market on Friday closed higher after the US Federal Reserve kept interest rates in the US on hold.

The benchmark S&P/ASX200 index rose 23.7 points, or 0.46 per cent, at 5,170.5 points.

The broader All Ordinaries index was up 23.1 points, or 0.45 per cent, at 5,194.3 points.