Aust stocks set to open flat

Local market expected to begin little changed on weak EU jobs data.

The Australian stock market looks set to open flat following falls on Wall Street and most European bourses after eurozone employment figures failed to impress.

At 0703 AEDT, the December share price index futures contract was up three points at 5,419.

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 economic news on Friday, Reserve Bank of Australia (RBA) will release the index of commodity prices for month just ended, the Australian Industry Group posts the performance of manufacturing (PMI) index for the month just ended, while the RP Data-Rismark Home Value Index for September is due out, as is the producer price index for September quarter.

In equities news, Macquarie Group (MQG) is slated to post first half results and David Jones (DJS) its first quarter sales.

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.