View Comments
Local bourse set to open lower
The West Australian

The Australian sharemarket looks set to open lower after falls on Wall Street and most European markets following Germany's disappointing economic growth figures.

At 3.26am, the March share price index futures contract was down 11 points at 4681.

Germany's gross domestic product (GDP) experienced a fourth-quarter 0.5 per cent contraction, bringing full-year growth to just 0.7 per cent, the federal statistics office Destatis calculated in preliminary data.

In local economic news, the Westpac/Melbourne Institute Survey of Consumer Sentiment, the Australian Bureau of Statistics lending finance for November and the ABS new motor vehicle sales for December are all due to be released.

No major equities news is expected.

In Australia yesterday, the market closed marginally lower after investors decided to reap their profits later in the day.

At the close yesterday, the benchmark S&P/ASX200 index was down 3.1 points, or 0.07 per cent at 4716.6, while the broader All Ordinaries index lost 2.7 points, or 0.06 per cent, at 4743.