The Australian share market is expected to open stronger today, bolstered by gains on Wall Street last Friday.

On the Sydney Futures Exchange, the September share price index contract went up 40 points at 4476 points, on volume of 3136 contracts when it last traded Saturday morning. The major indices each climbed almost 2 per cent Friday.

In economics news for today, producer price indices for June are scheduled to be released from the Australian Bureau of Statistics.

In companies news, Australian Foundation Investment Company and GUD Holdings are set to declare their annual reports.

MMG will announce its June quarter production results, while Wesfarmers shows sales results for the full-year and the three months to June.

Chairman David Mortimer and chief executive Ahmed Fahour of Australia Post will address an Australia Israel Chamber of Commerce luncheon.

City Index head of Asia Pacific dealing Michael McCarthy said European stress test results were an "official tick" that were likely to bolster the banking industry and the overall market.

While this is expected to prop up the S&P/ASX200 Index, Mr McCarthy noted that in recent days Australian stocks had opened strong on positive US and European news only to slump later in the day.

"That indicates to me the day-traders are quite positive and active but the longer term investors, big investors and funds are possibly on the sidelines," he said.