Australian market set to open flat

THE Australian market looks set to open flat despite solid gains on Wall Street following a decent US jobs report.

NEW YORK, NY - DECEMBER 04: Traders work on the floor of the New York Stock Exchange during the afternoon of December 4, 2015 in New York City. The market closed more than 370 points up due to positive jobs report data. Andrew Burton/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==

THE Australian market looks set to open flat despite solid gains on Wall Street following a decent US jobs report.

At 0645 AEDT on Monday, the December share price index futures contract was unchanged at 5,155.

US non-farm payrolls increased 211,000 in November, the US Labor Department said, while September and October data were revised to show 35,000 more jobs than previously reported.

Analysts said the report, which also showed the unemployment rate held steady at five per cent, would most likely pave the way for the Federal Reserve to raise rates this month for the first time in nearly a decade.

Locally, in economic news on Monday, the Ai Group/Housing Industry Association performance of construction index (PCI) and the ANZ job advertisements series, both for November, are due out. No major equities news is expected.

In Australia, the market on Friday closed sharply lower after overseas markets fell on the European Central Bank’s latest economic stimulus.

The benchmark S&P/ASX200 index was down 76.1 points, or 1.46 per cent, at 5,151.6 points.

The broader All Ordinaries index was down 75.2 points, or 1.43 per cent, at 5,201.5 points.