Market tipped to fall at open

The West Australian February 9, 2010, 6:19 am
The Australian share market has opened slightly lower.

Getty Images / Sergio Dionisio ©

The Australian stock market has received a mixed set of leads from overseas markets, with Wall Street's main indices themselves mixed but oil and metals prices higher.

At 5.22am the on the Sydney Futures Exchange, the March share price index contract was 31 points lower at 4442, on volume of 3688 contracts.

In economic news, the National Australia Bank monthly business survey is due, and, late in the day, the Reserve Bank of Australia releases papers scheduled to be delivered at a symposium marking the 50th anniversary of its establishment.

In companies news, Macquarie Group is expected to post an operational update.

Full year results are due from Australand Property Group, Reckon and Alumina, first half results are scheduled from David Jones, Cochlear and Bradken and Optus parent Singapore Telecommunications releases third quarter results.

The Australian share market closed marginally higher yesterday ahead of key earnings reports by heavyweights BHP Billiton, Rio Tinto and Commonwealth Bank later in the week.

The benchmark S&P/ASX200 index ended up 7.3 points, or 0.16 per cent, at 4521.4, while the broader All Ordinaries index finished 6.3 points higher, by 0.14 per cent, at 4538.8.

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