Australian sharemarket preview

THE Australian market looks set to open lower. At 7.05am (AEDT) today, the December share price index futures contract was down 27 points at 4258. In economic news today, the ANZ job advertisements series for October are released as is the Australian Industry Group/Housing Industry Association performance of construction index (PCI) for October. In equities news, RXP Services due to list on the ASX, Orica Ltd posts its full year results and RSM International chief executive Jean Stephens is to address an Australian Institute of Company Directors luncheon. In Australia, the market on Friday snapped a four-day losing streak to notch up its biggest one-day rise in almost four weeks. The benchmark S&P/ASX200 index was up 109.3 points, or 2.62 per cent, at 4281.1, while the broader All Ordinaries index gained 105 points, or 2.48 per cent, to 4342.5.