The Australian market looks set to open higher despite a mixed showing on European markets and falls on Wall Street.

At 3.39am, the March share price index futures contract was up 12 points at 4931.

In economic news, the National Australia Bank is expected to release its monthly business survey for January.

In equities news, Bradken and Amcom are expected to post first half results.

Yesterday the market closed lower, as falls in mining-related sectors cruelled the market's bid to break through the 5000-point level.

The benchmark S&P/ASX200 index ended the local session down 11.8 points, or 0.24 per cent, at 4959.5 points, while the broader All Ordinaries index ended 9.1 points, or 0.18 per cent, lower at 4980.3 points.