Share market set to open higher

THE Australian share market is set to open higher after another positive session on Wall Street.

THE Australian share market is set to open higher after another positive session on Wall Street.

The Dow Jones Industrial Average rose 0.7 per cent after the US Federal Reserve kept its benchmark interest rate at near-zero per cent and gave no fresh clues on the timing of a long-awaited rate hike.

At 0645 AEST on Thursday, the September share price index futures contract was up 35 points at 5,608.

In local economic news, Reserve Bank governor Glenn Stevens is speaking at the Boao Forum for Asia Financial Cooperation Conference in Sydney.

The Australian Bureau of Statistics will release international trade price indexes for June quarter and building approvals numbers for June.

In company news, Sunbeam kitchen appliance marketer GUD Holdings releases its full year results, Energy Resources of Australia releases its half year results and lab testing group ALS holds its annual general meeting.

Newmont’s Asia Pacific vice president Tom Palmer is scheduled to speak at a Western Australia Mining Club Lunch.

The market on Wednesday closed higher, with the benchmark S&P/ASX200 index up 39.5 points, or 0.71 per cent, at 5,624.2 and the broader All Ordinaries index up 38.6 points, or 0.69 per cent, at 5,609.6.