Australian market set to open lower

The Australian market looks set to open lower following falls in commodity prices overnight.

At 0650 AEDT on Thursday, the December share price index futures contract was down five points at 5,200.

Oil, gold and copper prices retreated overnight following the release of a mixed batch of US economic data.

Locally on Thursday, the Australian Bureau of Statistics releases business investment figures for the September quarter, a key indicator for next week's economic growth figures.

In equities news, the following companies are holding annual general meeting on Wednesday; Woolworths, Bank of Queensland, Primary Health Care, and online jobs advertiser Seek.

In Australia, the market on Wednesday was pulled more than half a percentage point lower by the big four banks, losing ground for a second straight session.

The benchmark S&P/ASX200 index was down 32.7 points, or 0.63 per cent, at 5,193.7.

The broader All Ordinaries index was down 31.8 points, or 0.6 per cent, at 5,245.2.


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