The Australian share market opened flat following mixed leads from offshore trade overnight. Wall Street indices were subdued to slightly higher. Metals increased, while oil dropped moderately.

On the Sydney Futures Exchange Tuesday morning, the September share price index contract shed 5 points at 4415. Yesterday, the major indices each closed the trading day about 0.4 of a per cent weaker.

In economic news today, the Central Bank releases the minutes of its August 3 board meeting, while Reserve Bank governor Glenn Stevens delivers the 2010 Shann Memorial Lecture in Perth.

In data releases, the Australian Chamber of Commerce and Industry publishes its small business survey for the three months to June. The Melbourne Institute issues its Wages Report for the August quarter.

The Labour Price Index for June is expected from the Australian Bureau of Statistics.

In equities, annual results are due for release from CFS Retail Property Trust, Commonwealth Property Office Trust, Challenger Wine Trust, GWA International, OneSteel, Primary Health Care, SAI Global, Sky City Entertainment Group and UGL.

Aston Resources and Bailey Minerals NL are slated to list on the Australian stock exchange. Minara Resources holds its annual general meeting.

Yesterday, the Australian bourse gained off early losses to finish about 0.4 per cent down after positive earnings guidance and announcements from industrial and energy stocks.

The benchmark S&P/ASX200 index closed 21.1 points or 0.47 per cent lower at 4438.5 points. The broader All Ordinaries index shed 15.5 points, or 0.35 per cent, to hit 4465.4.