Australian market opens on a positive

07:57 AEST Wed Dec 2 2009

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The Australian sharemarket is expected to open in positive territory after gains on Wall Street and European markets overnight.

At 0710 AEDT on the Sydney Futures Exchange, the December share price index contract was 57 points higher at 4,784.

There is no significant economic news due on Wednesday. In companies, news, the Federal Court in Sydney is scheduled to hand down judgment on Network Seven's C7 appeal.

In Australia on Tuesday, the sharemarket ended stronger after Australian investors shrugged off news of a much-expected interest rate rise.

The benchmark S&P/ASX200 index closed up 17.7 points, or 0.38 per cent, to 4,719 points, while the broader All Ordinaries index gained 17.6 points, or 0.37 per cent, to 4,733.1 points.

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