The Australian share market opens flat, primarily, because the European markets had a firm closing and US markets being closed overnight for Labor day.

The September share price index contract was down one point at 4,591 points. Traded contracts reached 2,301.

The sharemarket closed higher on Monday. The benchmark S&P/ASX200 index closed at 34.3 points (0.76 percent) at 4,575.5, while the broader All Ordinaries index gained 38.1 points (0.83 percent) to 4,615.7.

Traders should keep an eye on elderly home care manager Aevum Limited (ASX: AVE) as it tries to raise the bid offered by residential and industrial manager Stockland Corporation Limited (ASX: SGP). Aevum closed up 3.5 cents at $1.74 and Stockland closed higher seven cents at $4.15.

Mining giant BHP Billiton (ASX: BHP) is still a stock to consider since the Zambian government has reversed a decision on Wednesday to cancel BHP Billiton's Mumbwa prospecting licence. The mining group is in joint venture project with Blackthorn Resources Limited (ASX: BTR). BHP closed higher 22 cents at $38.55 but BTR went down one cent at 60 cents.

Other miners in close watch are Andean Resources Limited (ASX: AND), Lynas Corporation Limited (ASX: LYC), and Norton Gold Fields Limited (ASX: NGF).