Market set to open higher

THE Australian market looks set to open higher, following a positive lead from Wall Street which turned up, after a flat opening, on some positive data on the US economy. At 0630 AEDT today, the December share price index futures contract was up five points at 4,312. In economic news, the Westpac-Melbourne Institute Leading Indexes of Economic Activity for November is released, as is the Australia Bureau of Statistics' labour price index for September. In equities news, Linkedin Australia and New Zealand chief executive Cliff Rosenberg is to address an American Chamber of Commerce in Australia luncheon while BC Iron Ltd holds its annual general meeting. In Australia, the market on Tuesday closed half a per cent weaker amid renewed worries about European debt. The benchmark S&P/ASX200 index was down 19 points, or 0.44 per cent, at 4,285.6 points, while the broader All Ordinaries index had fallen 17.6 points, or 0.4 per cent, to 4,351.5 points.