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Australian market set to open flat

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SYDNEY, Feb 7 AAP

February 07 2013, 07:24AM

The Australian market looks set to open flat despite falls on international markets overnight.

At 0721 AEDT on Thursday, the March share price index futures contract was up five points at 4,880.

In economic news on Thursday, the Australian Bureau of Statistics is due to release labour force figures for January, and the Australian Industry Group/Housing Industry Association its performance of construction index (PCI) for January and the National Australia Bank December its quarter business survey.

In equities news, Telstra Corp, News Corp and Tabcorp are expected to post first half results and Australand is due to announce its full-year results while the National Australia Bank is scheduled to give a first quarter trading report.

In Australia, the market on Wednesday closed higher on the back of a positive lead from the United States market and the prospect of a cut to interest rates.

On Wednesday, the benchmark S&P/ASX200 index had risen 38.3 points, or 0.78 per cent, to 4,921 points, and the broader All Ordinaries index was up 37.9 points, or 0.77 per cent, at 4,940.5 points.