Australian Sharemarket Preview

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October 6th, 2011

THE Australian market looks set to open higher after Wall Street again rose more than one per cent.

At 6.32 (AEDT) today, the December share price index futures contract was up 54 points at 4122.

In economic news today, The Australian Industry Group/Housing Industry Association performance of construction index (PCI) for September is released.

In equities news, Bechtel Corporation chairman and CEO Riley Bechtel addresses a Melbourne Mining Club lunch, while Agrium Asia Pacific managing director Philip Gentry is due to address an American Chamber of Commerce in Australia luncheon.

In Australia, on yesterday's shares gained about $45 billion in value as the market leaped the most in almost three years on renewed optimism a solution is near for the Eurozone debt crisis.