Australia shares seen subdued on U.S. worries, weak commodities prices
SYDNEY Nov 1 (Reuters) - Trade in Australian shares is expected be be subdued as Wall Street fell on the U.S. Federal Reserve's less dovish comments about its tapering plans, while a dip in metals prices may weigh on the mining sector.
* Local share price index futures rose 0.1 percent, but was a 6.5-point discount to the underlying S&P/ASX 200 index close. The benchmark slipped 0.1 percent on Thursday, but ended the month 4 percent higher to hover at five-year highs.
* New Zealand's benchmark NZX 50 index fell 0.4 in early trade.
* U.S. stocks finished lower on Thursday as the Federal Reserve's statement the day before added to investors' anxiety about the timing of a pullback in its stimulus program.
* Copper fell overnight on a strong dollar after the U.S. Federal Reserve's latest policy outlook turned out to be less dovish than some had expected, while growing supply and weak demand also weighed on the outlook for the metal.
* Gold and other precious metals fell as commodity funds sold to square books at the end of October and as investors kept selling.
* New Zealand's Fonterra has acquired a 6 percent shareholding in Australia's Bega Cheese Ltd for A$46 million ($44 million), the world's largest dairy exporter said on Friday.
* Australia's biggest investment bank Macquarie Group announced a 39 percent rise in its first-half profit to A$501 million ($474.42 million).
----------------------MARKET SNAPSHOT @ 2213 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 1756.54 -0.38% -6.770 USD/JPY 98.34 -0.01% -0.010 10-YR US TSY YLD 2.5524 -- 0.000 SPOT GOLD 1322.99 -0.02% -0.200 US CRUDE 96.3 -0.08% -0.080 DOW JONES 15545.75 -0.47% -73.01 ASIA ADRS 149.26 -0.72% -1.08 -------------------------------------------------------------
* Wall St ends session lower but posts gains for October * Brent oil falls, spread narrows on profit-taking * Gold drops 1.4 pct on month-end profit taking, dollar rises * Copper falls on strong dollar, supply outlook
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(Australia/New Zealand bureaux; +61 2 9373 1800/+64 4 471 4234)
($1 = 1.0560 Australian dollars) (Reporting by Thuy Ong; Editing by)
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