Australian market set to open lower

The Australian market looks set to open lower after Wall Street fell, weighed down by tepid data on private sector US jobs and a retreat in biotech shares.

At 0645 AEST on Thursday, the share price index was down 17 points at 5,233.

In local economic news on Thursday, the Australian Bureau of Statistics releases international trade in goods and services and its retail trade data, both for March.

In equities news, National Australia Bank is slated to release half-year results, while Rio Tinto, Caltex Australia, Scentre Group and Genworth Mortgage Insurance hold their annual general meetings.

In Australia, the market on Wednesday, closed more than one per cent lower as weaker prices for iron ore and oil pulled back resources and energy stocks.

The benchmark S&P/ASX200 index was was down 82.7 points, or 1.54 per cent, at 5,271.1 points.

The broader All Ordinaries index was down 79.4 points, or 1.47 per cent, at 5,335.6 points.

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