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ASX set for bounce after losses
The West Australian

The Australian sharemarket looks set to open higher following rebounds on European and US markets overnight.

At 3.31am, the March share price index futures contract was up 20 points at 4865.

In economic news, the Australian Bureau of Statistics is due to release retail trade figures for December.

In equities news, Primary Health Care is due to post earnings results while RuralCo has its annual general meeting scheduled and a board spill meeting is slated for Globe International.

Yesterday the market pared back early losses to finish lower for the second consecutive day as weaker global markets weighed on local sentiment.

The losses yesterday came after global markets posted significant falls for the first time in 2013.

At the close, the benchmark S&P/ASX200 index was 24.8 points, or 0.51 per cent, weaker at 4882.7, while the broader All Ordinaries index was down 26.5 points, or 0.54 per cent, at 4902.6.