Australia shares seen extending losses on China manufacturing data

Thu Jan 23, 2014 5:13pm EST

SYDNEY, Jan 24 (Reuters) - Australian shares are set to fall
on Friday, extending losses after China's factory sector
contracted in January for the first time in six months as new
orders declined, while gold stocks may get some boost from
firmer bullion prices.
    
    * Local share price index futures fell 0.6 percent
to 5,197.0, a 66.0-point discount to the underlying S&P/ASX 200
index close. The benchmark slipped 1.1 percent on
Thursday.
    * New Zealand's benchmark NZX 50 index fell 0.9
percent to 4,866.7 in early trade.
    * U.S. stocks fell on Thursday, with the Dow Jones
industrial average recording its third consecutive day of
losses, after disappointing manufacturing data in China and a
mixed bag of U.S. corporate earnings.
    * Copper fell on Thursday, dragged lower by China's
disappointing manufacturing data, which reinforced concerns
about the outlook for economic growth. But further declines were
capped by a weak dollar and a shortfall of refined red metal.
    * U.S. crude oil futures rose Thursday, narrowing the
discount to European Brent to the lowest level in two months,
due to a larger-than-expected draw in distillate stocks caused
by sustained cold.
    * Australia's Murray Goulburn Co-operative Co Ltd agreed to
sell its 17.7 percent stake in Warrnambool Cheese and Butter
Factory Co Holdings Ltd to rival bidder Saputo Inc
, finally bowing out of the hotly contested bidding
battle. 
    
   
------------------ MARKET SNAPSHOT @ 2157 GMT ------------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1,828.46    -0.89%   -16.400
USD/JPY                   103.28      -1.18%    -1.230
10-YR US TSY YLD     2.779           --    -0.081
SPOT GOLD                 1,264.19     0.02%     0.240
US CRUDE                  97.38        0.67%     0.650
DOW JONES                 16,197.35   -1.07%   -175.99
ASIA ADRS                144.63      -2.08%     -3.07
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* Wall Street slides on China data, earnings             
* U.S. crude rises; discount to Brent hits 2-month low   
* Gold posts biggest gain in 3 mths as U.S. stocks slide 
* Copper pressured by China growth worries               
    
    For a digest of the day's business stories in Australian 
newspapers, double-click: 

 (Reporting by Maggie Lu Yueyang, editing by G Crosse)
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