THE Australian market looks set to open higher, following gains of around one per cent on Wall Street. At 0649 AEDT on Thursday, the March share price index futures contract was up 64 points at 5,162.

US stocks are higher for a third consecutive session, led by strength in energy stocks, as a bounce in oil prices boosts confidence ahead of the Christmas holiday.

In Australia, the market on Wednesday closed higher for the sixth straight session, following a stabilisation in commodity prices.

The benchmark S&P/ASX200 index was up 25.1 points, or 0.49 per cent, at 5,141.8 points.

The broader All Ordinaries index was up 25.8 points, or 0.5 per cent, at 5,193.5 points.



By Adam