Australia shares seen subdued, gold miners may support
SYDNEY, Sept 25
SYDNEY, Sept 25 (Reuters) - Australian shares look set for a sluggish start on Wednesday after Wall Street extended its recent slide amid uncertainty over U.S. fiscal and monetary policy, but a rise in gold prices may support the market.
* Local share price index futures slipped 0.1 percent but was a 4.8-point premium to the underlying S&P/ASX 200 index close. The benchmark fell 0.4 percent on Tuesday, its third consecutive session of declines.
* New Zealand's benchmark NZX 50 index was flat in early trade.
* The Dow and S&P 500 ended lower on Tuesday, extending their recent slide to a fourth session as worries over a possible U.S. government shutdown added to investor concern.
* Though uncertainty remains over the Federal Reserve's intentions to scale back its stimulus, Tea Party-backed U.S. senators are threatening to stall a bill to fund the U.S. government.
* Copper fell for a third straight session on renewed uncertainty over the Fed and as more supply hits the market.
* Gold rose as physical buying at lower prices and technical support helped bullion snap a three-day losing streak.
* Spot iron ore prices edged up as some Chinese mills replenished stocks, but interest from the biggest importer of the commodity was slow, reflecting a subdued steel market.
* Department store David Jones Ltd will report its full year earnings later in the day.
* The Reserve Bank of Australia will release its Financial Stability Review report later on Wednesday. This is a quarterly report card on the health of the banking sector by Australia's central bank.
----------------------MARKET SNAPSHOT @ 2254 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 1697.42 -0.26% -4.420 USD/JPY 98.77 0.06% 0.060 10-YR US TSY YLD 2.6552 -- 0.000 SPOT GOLD 1323.56 0.07% 0.970 US CRUDE 103.29 0.16% 0.160 DOW JONES 15334.59 -0.43% -66.79 ASIA ADRS 148.35 -0.03% -0.05 -------------------------------------------------------------
* Dow, S&P 500 extend recent slide, down 4th session * Brent rises in heavy spread trading, eyes on Iran * Gold rises on bargain hunting, snaps 3-day drop * Copper falls for 3rd session on supply, Fed concerns
For a digest of the day's business stories in Australian newspapers, double click on
(Australia/New Zealand bureaux; +61 2 9373 1800/+64 4 471 4234)
(Reporting by Thuy Ong; Editing by Shri Navaratnam)
- Pope attacks mega-salaries and wealth gap in peace message
- Atheists face death in 13 countries, global discrimination: study
- South Africa admits mistake over 'schizophrenic' Mandela signer |
- Thai military heads agree to meet protest leader at weekend |
- Missouri executes man for killing good Samaritan motorist in 1994