Australian share market opens lower

The share market suffered marginal losses in opening trade, despite a positive lead from Wall Street on better-than-expected US home sales data for November.
At 10:15 (AEDT), the benchmark S&P/ASX200 index was down 5.9 points, or 0.13 per cent to 4698.3 points, while the broader All Ordinaries index slipped 5.6 points, or 0.12 per cent, to 4718.8.
On the Sydney Futures Exchange the March share price index contract was five points higher at 4693, on a volume of 4,041 contracts.
Resources giant BHP Billiton lost 12 cents to $41.53, while rival Rio Tinto fell 13 cents to $72.62.
The major lenders were mixed, with Westpac gaining four cents to $24.19, while NAB fell four cents to $26.27.Commonwealth Bank of Australia dropped 20 cents to $52.39 and ANZ gave up nine cents to $21.38.
On Wall Street, better-than-expected US home sales data for November pushed the major indices higher, offsetting a downward revision of US September quarter economic growth.
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US home sales jumped 7.4 per cent in November to a 6.54 million annual rate - the highest level since February 2007 - while third quarter US economic growth reached 2.2 per cent, down from a previous estimate of 2.8 per cent.
The Dow Jones Industrial Average advanced 50.79 points, or 0.49 per cent, to 10,464.93, while the broader Standard & Poor's 500 firmed 3.97 points, or 0.36 per cent to 1118.02.
The tech-laden Nasdaq composite gained 15.01 points, or 0.67 per cent, to 2252.67.
Macquarie Private Wealth advisor Helen Spencer said trading volumes were very thin and trade lacklustre despite a stronger Wall Street lead.
"It's a bit of a mixed bag, despite the positive lead from offshore,'' Ms Spencer said.
"There is a... lack of momentum leading into the Christmas break.''
The positive US housing numbers helped support housing related stocks, she said.
By 10:33 AEDT, James Hardie was seven cents higher at $8.29 on turnover of 156,175 shares.
The gold price was weaker overnight, then picked up at the open, Ms Spencer said.
The spot price of gold in Sydney was $US1086.00 per fine ounce at 10:34 AEDT, down $US8.92 on yesterday's closing price of $US1094.92.
Gold stocks were mixed, with Newmont Mining falling five cents to $5.33, while Lihir Gold firmed one cent to $3.16 and Newcrest Mining gained 29 cents to $34.35.