Australian stock market to open lower 8/3/2012

Australian stock market to open lower 8/3/2012 : The Australian market looks set to open lower following falls on Wall Street with investors disappointed the European Central Bank announced no immediate measures to solve the euro zone sovereign debt crisis.

At 0637 AEST on Friday, the September share price index futures contract was down 28 points at 4,200

In economic news on Friday, the Australian Industry Group/Commonwealth Bank Australian Performance of Services Index is due out, while the Australian Bureau of Statistics is scheduled to release June's figures for overseas arrivals and departures.

In equities news, ResMed is due to post full year earnings results.

In Australia, the market on Thursday closed slightly higher, boosted by better-than-expected retail sales and trade balance figures.

The benchmark S&P/ASX200 index was up 6.7 points, or 0.16 per cent, at 4,269.5 points while the broader All Ordinaries index rose 7.4 points, or 0.17 per cent, to 4,290.1 points.

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