The Australian market looks set to open higher despite a mixed performance on Wall Street following a jump in US pending home sales and General Motors' announcement of another massive car recall. At 6. 45am (AEST), the September share price index futures contract was up 12 points at 5,466.
In equities news, the market is waiting to find out whether a $1. 37 billion takeover of Goodman Fielder by Singapore-based Agribusiness Wilmar International and Hong Kong-listed investment firm First Pacific goes ahead after the food group's shares were placed in a trading halt on Monday.
Read more here: Business Spectator