The Australian sharemarket looks set to open higher following strong performances on world markets propelled by news of soaring investor sentiment in eurozone powerhouse Germany.

At 3.40am, the March share price index futures contract was up 13 points at 5073.

In economic news on Wednesday, the Australian Bureau of Statistics releases releases the wage price index for December, while Westpac-Melbourne Institute Leading Indexes of Economic Activity is also due out.

In equities news, Suncorp Group, Super Retail Group, Seven West Media, Seek, The Reject Shop, Toll Holdings, Aurizon Holdings, BHP Billiton and Fortescue Metals Group are among the companies expected to post first half results.

Woodside Petroleum is due to release its full year results, while Aristocrat Leisure has its annual general meeting scheduled.

Yesterday the market closed at its highest level in more than four years, with reporting season delivering mostly positive results.

At the close, the benchmark S&P/ASX200 index had lifted 18.5 points, or 0.37 per cent, to 5081.9 points, while the broader All Ordinaries index had added 18.1 points, or 0.36 per cent, to 5101 points.