The Australian market looks set to open higher later this morning and recover some of yesterday’s sharp falls after Wall Street bounced overnight.

The March SPI futures contract was up seven points, at 5822.

In local economic news today, the Australian Bureau of Statistics releases overseas arrivals and departures for January.

Also due out are the ANZ-Roy Morgan weekly consumer confidence survey and the National Australia Bank’s monthly business survey for February.

In equities news, the ASIC case against Hancock Prospecting to due to begin in Perth Magistrates Court.

Meanwhile, Rio Tinto iron ore chief executive Andrew Harding and BHP Billiton iron ore president Jimmy Wilson are slated to speak at Global Iron Ore and Steel Forecast Conference in Perth.

OrotonGroup is expected to post half year results.

Key numbers:

• SPI futures up 7pts at 5822
• AUD at 77.09 US cents, 93.39 Japanese yen, 71.02 Euro cents and 50.96 British pence.
• On Wall St, S&P 500 +0.5%, Dow +0.9%, Nasdaq +0.3%
• In Europe, Stoxx 50 -0.2%, FTSE -0.5%, CAC -0.6%, DAX +0.3%
• Spot gold down 33 US cents to $US1166.96 an ounce
• Brent oil down $US1.22 or 2.04% to $US58.51 per barrel

What’s on today:

Australia NAB business survey; China inflation

Stocks to watch:

The following stocks will trade ex dividend today: Dick Smith, Fiducian, Invocare, Keybridge Capital, LogiCamms, Matrix, Mighty River Power, Monadelphous, Orora, Prophecy Int, RCR Tomlinson, Sandfire Resources, Sedgman, Slater & Gordon, Tox Free Solutions.

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