Markets set to open higher on EU optimism

THE Australian market is set to open higher today on optimism that eurozone leaders are finally pushing forward to resolve the debt crisis and positive US data and corporate earnings. At 6.55am (AEDT) on the ASX 24, the December share price index futures contract was up 46 points at 4266 points. In local economic news today, the Australian Bureau of Statistics will release lending finance for August and new motor vehicle sales for September. In company news, Ansell is due to hold its annual general meeting. On Friday, Australian stocks extended earlier losses to close lower following negative leads from US and European markets. The benchmark S&P/ASX200 index shed 38.9 points, or 0.92 per cent, at 4205.6 and the broader All Ordinaries index lost 37 points, or 0.86 per cent, to 4269.