Aust stocks open slightly lower

Local market edges lower in early trade on weak EU employment figures.

The Australian stock market opened slightly lower following falls on Wall Street and most European bourses after eurozone employment figures failed to impress.

At the 1015 AEDT official market open, the benchmark S&P/ASX200 index was 0.24% lower at 5,412.7 points, while the broader All Ordinaries index declined 0.23% to 5,408.1 points.

Eurozone unemployment is back flirting with the 20-million mark, after what analysts said was a stark "revising away" of a tourism-led summer breather.

The key unemployment rate across the 17-country currency area hit a record 12.2 per cent in September, with about 19.5 million people classed as jobless by European Union data agency Eurostat.

In Australia, the market on Thursday closed slightly lower with falls by most major banks but gains among industrial stocks.

The benchmark S&P/ASX200 index was down 5.4 points, or 0.1%, at 5,425.5.

The broader All Ordinaries index was down 5.1 points, or 0.1%, at 5,420.3.