Aust stocks set to open lower

Local market expected to begin weaker after upbeat US growth data.

The Australian stock market looks set to open lower following falls on international markets after data showed that the US economy was growing at a speedy 3.6%.

At 0645 AEDT, the December share price index futures contract was down 21 points at 5,190.

In economic news on Friday, the Australian Industry Group/Housing Industry Association performance of construction index (PCI) for month just ended is due to be released.

In equities news, Nine Entertainment (NEC) makes its debut on the ASX while Washington H Soul Pattinson has its annual general meeting.

In Australia, the market on Thursday fell heavily in afternoon trade after starting the day flat.

Business news was marked by the dramatic descent of national airline Qantas, which flagged a big financial loss and widespread job cuts.

The benchmark S&P/ASX200 index was 70.6 points, or 1.34%, at 5,196.9 points.

The December share price index futures contract was 66 points lower at 5,211 points, with 32,296 contracts traded.

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