The Australian market looks set to start 2014 flat amid likely quiet trade following the New Year’s public holiday.

At 0645 AEDT on Thursday, the March share price index futures contract was unchanged at 5,318.

In economic news on Thursday, the Reserve Bank of Australia (RBA) releases the index of commodity prices for month just ended while the Australian Industry Group’s performance of manufacturing (PMI) index for December is also due out.

No major equities news is expected.

In Australia, the market was closed on Wednesday for the public holiday.

On Tuesday, the market closed flat on the day, but up 15 per cent for the year, its best performance in four years.

The benchmark S&P/ASX200 index was down 4.6 points, or 0.09 per cent, at 5,352.2 points.

The broader All Ordinaries index was down 4.9 points, or 0.09 per cent, at 5,353.1 points.