Australian market set to open flat THE Australian market looks set to open flat despite rises on US and European markets overnight with dealers brushing aside lower-than-expected growth in the United States to focus on upbeat jobs data in the world's biggest economy. At 0630 AEDT on Friday, the March share price index futures contract was up one point at 5086. In economic news on Friday, the Reserve Bank of Australia (RBA) is due to release the index of commodity prices for February while the Australian Industry Group is expected to release the performance of manufacturing (PMI) index for the same month. Also, the RP Data Rismark home value index for February is slated for release. No major equities news is expected. In Australia, the market on Thursday reached its highest point in four and a half years as investors had a more positive view of the deadlocked Italian election. At the close, the benchmark S&P/ASX200 index was 67.5 points, or 1.34 per cent, higher at 5,104.1. The index reached an intraday peak of 5,112.5 minutes before closing time, touching the highest level reached since September 2008, when US financial giant Lehman Brothers collapsed. Meanwhile the broader All Ordinaries index was up 67.3 points, or 1.33 per cent, at 5,120.4.