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Australian market set to open flat

The Australian market looks set to open flat following Wall Street's mixed performance after prominent corporate deals and a drop in pending home sales.

At 0645 AEST on Tuesday, the September share price index futures contract was down three points at 5,526.

US pending home sales slipped 1.1 per cent in June to 102.7, according to the National Association of Realtors' index. That was a modestly stronger decline than analysts' consensus estimate of 0.8 per cent drop.

In local economic news on Tuesday, the Housing Industry Association releases June's new home sales data.

In equities news, Perseus Mining is expected to post its quarterly activity report while ALS Group has its annual general meeting scheduled in Brisbane.

In Australia, the market on Monday, fell slightly as gains by iron ore miners were outweighed by falls by most banks and retailers.

The benchmark S&P/ASX200 index dropped 6.1 points, or 0.11 per cent, to 5,577.4 points.

The broader All Ordinaries index shed 4.3 points, or 0.08 per cent, to 5,569.9 points.