The Australian sharemarket looks set to open flat following mixed performances on US and European markets.

At 4am, the March share price index futures contract was up two points at 4835.

In economic news, the National Australia Bank's monthly business survey for December is due out.

In equities news, the Federal Court is scheduled to decide on Nine Entertainment's $3.4 billion recapitalisation plan, which creditors approved on January 21.

Also, Oil Search is expected to releases its fourth quarter production report while Beach Energy is due to releases its first half report.

The Australian sharemarket was closed yesterday for the Australia Day public holiday.

The benchmark S&P/ASX200 index on Friday closed up 25.0 points, or 0.52 per cent, at 4835.20 points, while the broader All Ordinaries index was up 25.1 points, or also 0.52 per cent, to 4858.90 points.