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November 12 2012, 07:26AM

Australian stocks are set for a weak start on Monday as world markets are dominated by concerns about the looming "fiscal cliff" in the United States.

US lawmakers have until December 31 to work out a compromise to avoid tax increases and government spending cuts that begin to take effect from 2013.

At 0721 AEDT on Monday, the December share price index futures contract was down 15 points at 4,469.

In economic news on Monday, the Australian Bureau of Statistics releases housing finance data for September.

In company news, Orica will release its full year results.

Origin Energy and Fleetwood Corporation will hold annual general meetings.

On Friday, the Australian share market closed lower.

The benchmark S&P/ASX200 index lost 21.8 points, or 0.49 per cent, to 4,462.0, while the broader All Ordinaries index fell by 19.7 points, or 0.43 per cent, to 4,482.5.