Australian share market to open flat

THE Australian share market looks set to open flat after the Federal Reserve’s decision to keep its benchmark interest rate on hold.

THE Australian share market looks set to open flat after Wall Street closed mainly slightly lower following the Federal Reserve’s decision to keep its benchmark interest rate on hold.

At 0645 AEST on Friday, the December share price index futures contract was unchanged at 5,107.

In economic news on Friday, Reserve Bank of Australia governor Glenn Stevens is due to appear before the House of Representatives Economics Committee.

In equities news, Premier Investments is slated to post full year results, while Sealink is expected to make an announcement on a capital raising or acquisition.

In Australia, the market on Thursday climbed higher before the Fed announced it was keeping its interest rates at zero.

The benchmark S&P/ASX200 index was up 47.9 points, or 0.94 per cent, at 5,146.8 points.

The broader All Ordinaries index was up 47.6 points, or 0.93 per cent, at 5,171.2 points.