Australian market set to open lower

THE Australian market looks set to open lower following a mixed performance on international markets overnight.

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THE Australian market looks set to open lower following a mixed performance on international markets overnight.

At 0645 AEDT on Thursday, the December share price index futures contract was down 26 points at 5,213.

Locally, in economic news on Thursday, Reserve Bank of Australia assistant governor (Financial System) Malcolm Edey is slated to speak at the International Swaps and Derivatives Association’s (ISDA) annual conference in Sydney.

In equities news, the Australian Competition and Consumer Commission is expected to release its decision on the Foxtel and Ten Network deal.

Australian Pharmaceutical Industries is due to post full year results, while Westfarmers, Drillsearch and Atlas Iron Sept are slated to give quarterly briefings.

Greencross and Spotless have annual general meetings in Australia and BHP Billiton has its AGM in London.

Meanwhile, Citi’s 7th Annual Australian and New Zealand Investment two-day conference wraps up in Sydney.

In Australia, the market on Wednesday lifted modestly as investors gained confidence waited for a catalyst for stronger movement.

The benchmark S&P/ASX200 index was up 12.7 points, or 0.24 per cent, at 5,248.3 points.

The broader All Ordinaries index was up 14.9 points, or 0.28 per cent, at 5,286.5 points.