Share market set to open higher

THE Australian share market looks set to open high after Wall Street gained ahead of the release of the Federal Reserve’s October policy meeting.

THE Australian share market looks set to open high after Wall Street gained ahead of the release of the Federal Reserve’s October policy meeting.

At 0645 AEDT on Thursday, the December share price index futures contract was up 44 points at 5,5175.

Locally, no major economic news is expected on Thursday.

In equities news, James Hardie is expected to post half year results.

BHP Billiton, Village Roadshow, Paladin Energy, Sonic Healthcare have annual general meetings, as do BlueScope Steel, Patties Foods, Starpharma and Lovisa.

In Australia, the market on Wednesday closed higher despite a poor start as investors found reason to buy into the major banks. The benchmark S&P/ASX200 index was up 14.9 points, or 0.29 per cent, at 5,133.1 points.

The broader All Ordinaries index rose 14.8 points, or 0.29 per cent, to 5,189.1 points.