The Australian shares market opened lower on Friday. Share prices are expected to slightly drop following a rise in unemployment claims in the U.S. and a troubled European economy.

On the Sydney Futures Exchange this morning, the December share price index futures contract was 45 points lower at 4613 points.

Thursday's trading saw the benchmark S&P/ASX200 Index adding 8.4 points (0.2 percent) at 4633.6, and the broader All Ordinaries Index advancing 5.3 points (0.1 percent) to 4680.

The miners dug up some gains during Thursday's trading. Mining giant BHP Billiton Limited (ASX: BHP) went up 32 cents at $39.22. Rio Tinto Limited (ASX: RIO) soared with $1.14 to settle at $76.04.

The same banks made gains. Westpac Banking Corporation climbed 27 cents at $23.72 as the National Australia Bank Limited (ASX: NAB) jumped nine cents at $25.95. The Australia and New Zealand Banking Group (ASX: ANZ) went up six cents at $23.87. The Commonwealth Bank of Australia (ASX: CBA), however, was still down seven cents at $52.43.

Insurance firms slightly slipped with AMP Limited (ASX: AMP) down by one cent at $5.12 and the QBE Insurance Group Limited (ASX: QBE) dropping further by 24 cents at $17.41. Insurance Australia Group Limited (ASX: IAG) maintained a slow climb with three cents at $3.71.

Retailers keep up. Woolworths Limited gained nine cents at $28.88 while Harvey Norman Holdings Limited (ASX: HVN) stayed at $3.88. David Jones Limited (ASX: DJS) continued its drop losing 10 more cents to settle at $5.00.

Transportation companies take a slow ride. Toll Holdings Limited (ASX: TOL) went down nine cents at $6.57 and Qantas Airways Limited (ASX: QAN) slipped one cent at $2.66.