THE Australian market looks set to open higher after the Dow Jones closed above 15,000 for the first time and European markets rallied following Australia's central bank rate cut.
At 6.50am AEST today, the June share price index futures contract was up 21 points at 5155.
No major economic news is expected today.
In equities news, Sigma Pharmaceuticals has its annual general meeting while Seven West Media hosts an Investor Day in Sydney.
In Australia, the market yesterday closed lower despite recovering some ground after the Reserve Bank of Australia cut the cash rate by a quarter of a percentage point to a record low of 2.75 per cent.
The banks were being sold leading in to the surprise interest rate move and had dragged down the overall market by day's end.
The benchmark S&P/ASX200 index was down 12.5 points, or 0.24 per cent, at 5143.7 points, while the broader All Ordinaries index was down 11.1 points, or 0.22 per cent, to 5122.7 points.
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