THE Australian share market closed lower on Wednesday after a positive lead from United States markets was outweighed by continued concerns about Europe's debt problems.
At the close, the benchmark S&P/ASX200 index was 38.2 points, or 0.89 per cent, lower at 4,247.4 points, while the broader All Ordinaries index lost 37.7 points, or 0.87 per cent, to 4,313.8 points.
The December share price index futures contract was down 41 points at 4,266 points, on a volume of 36,444 contracts.
Positive data on the US economy boosted Wall Street on Tuesday, with the Dow Jones Industrial Average gaining 17.18 points, or 0.14 per cent, at 12,096.16.
But in Europe, markets moved mostly lower, with investors keeping a wary eye on the eurozone debt crisis as Italian, Spanish and French borrowing costs spiked worryingly higher.
"We had a pretty strong lead coming from the US overnight but at the same time it did look like we were in for a tough session," IG Markets market strategist Stan Shamu said.
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