The Australian share market has opened flat as cautious traders wait for the release of key employment figures in the US.

IG market strategist Chris Weston said it had been a lacklustre start to the morning following a mixed lead overnight.

He said there was no major market moving news and investors were looking ahead to the release of closely-watched US non-farm payrolls figures on Friday night (AEST).

“I expect to see pretty flat trade today. There aren’t any major drivers in the market,” he said.

The big four banks were slightly higher, with ANZ up six cents at $34.14, the Commonwealth Bank three cents higher at $78.67, National Australia Bank seven cents better off at $34.78 and Westpac six cents better at $34.76.

In the resources sector, BHP Billiton was down 23 cents at $37.27, while Rio Tinto had gained 15 cents to $60.94 and Fortescue Metals had lifted two cents to $4.87.

Shares in Macquarie Group were down 96 cents at $57.24 after a disappointing outlook for 2014/15 overshadowed a 49 per cent increase in its full year profit.

Meanwhile, Myer shares had dropped nine cents, or four per cent, to $2.08 following a one per cent slump in its third quarter sales.

KEY FACTS

* At 1020 AEST on Friday, benchmark S&P/ASX200 index was up 0.2 points at 5,449 points.

* The broader All Ordinaries index was flat at 5,430.4 points.

* On the ASX 24, the June share price index futures contract was flat at 5,434 points, with 7,165 contracts traded.

* National turnover was 355 million securities worth $313 million.