Australian market set to open lower

THE Australian market looks set to open sharply lower after Wall Street fell on investor disappointment over the ECB’s latest policy easing measures.

NEW YORK, NY - DECEMBER 03: Traders work on the floor of the New York Stock Exchange (NYSE) in afternoon trading on December 3, 2015 in New York City. The Dow Jones industrial average is down over 120 points in afternoon trading on news that the European Central Bank's new stimulus plan is not as aggressive as some investors had hoped. Spencer Platt/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==

THE Australian market looks set to open sharply lower after Wall Street fell on investor disappointment over the European Central Bank’s latest policy easing measures. At 0645 AEDT on Friday, the December share price index futures contract was down 76 points at 5,155.

Locally, in economic news on Friday, the Australian Bureau of Statistics releases October’s retail trade data and overseas arrivals and departure figures for the same month.

In equities news, BHP Billiton’s battle against the Queensland government over coal royalties in expected to be in court on Friday.

Washington H Soul Pattinson holds its annual general meeting on Friday while Asciano is expected to release target’s statement. In Australia, the market on Thursday closed lower as the big miners suffered sizeable falls.

The benchmark S&P/ASX200 index was down 30.6 points, or 0.58 per cent, at 5,227.7.

The broader All Ordinaries index was down 28.0 points, or 0.53 per cent, at 5,276.7.