Australian market set to open lower

The Australian market looks set to open lower as traders take profits following last week's strong gains.

At 0654 AEDT on Tuesday, the December share price index futures contract was down 16 points at 5,208.

Locally on Tuesday, Reserve Bank of Australia deputy governor Philip Lowe addresses the CFA Institute Australia Investment Conference in Sydney.

Economic data to be released includes the National Australia Bank's monthly business survey and the ANZ-Roy Morgan weekly consumer confidence survey.

In equities news, Telstra holds its annual general meeting, and uranium miner Energy Resources of Australia issues its third quarter production update.

In Australia, the market on Monday closed nearly one per cent lower as investors took profits after big gains last week.

The benchmark S&P/ASX200 index was down 46.8 points, or 0.89 per cent, at 5,232.9 points.

The broader All Ordinaries index was down 41.8 points, or 0.79 per cent, at 5,267.4 points.


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