Australian share market opens lower
Market watch top headlines
MELBOURNE, Nov 23 AAP
November 23 2012, 10:42AM
The Australian share market has opened lower, after markets in the United States were closed for the Thanksgiving holiday.
At 1010 AEDT on Friday, the benchmark S&P/ASX200 index was down three points, or 0.07 per cent, at 4,410.1 points, while the broader All Ordinaries index had dropped 3.3 points, or 0.07 per cent, to 4,429.1 points.
On the ASX 24, the December share price index futures contract was four points lower at 4,419 points, with 2,670 contracts traded.
IG Markets market strategist Stan Shamu said the Australian share market had had a subdued opening to Friday's trading session.
"With the US market closed for that Thanksgiving holiday, there's not many leads out there to work off," Mr Shamu said.
"Europe was firmer, but, basically, it was catch-up from yesterday's Asian session, so that really doesn't make too much of a difference for us locally."
Mr Shamu said the resources and energy sectors were leading the market downwards.
European stock markets and the euro rose as traders welcomed strong Chinese manufacturing data and an Israel-Gaza truce, while a Greek bailout deal was put on hold ahead of a European Union summit.
Investors shrugged off news that Cyprus, which currently holds the rotating EU presidency, will probably need 17 billion euros ($A21 billion) in international aid to rescue its struggling economy, hit by recession and the Greek debt crisis.
The benchmark FTSE 100 index climbed 0.68 per cent on Thursday to 5,791.03 points in London, Frankfurt's DAX 30 gained 0.84 per cent to 7,244.99 points, and the Paris CAC 40 advanced 0.60 per cent to 3,498.22.
At 1023 AEDT, national turnover was 181.8 million securities worth $194.7 million, with 275 stocks down, 217 up and 254 unchanged.