October 30, 2013 / 10:12 PM / 4 years ago

Australia shares seen pulling back after Fed; NAB reports record profits

SYDNEY, Oct 31 (Reuters) - Australian shares are likely to
track Wall Street lower on Thursday after the Federal Reserve,
as widely expected, left its massive stimulus programme in place
and said it had a weaker growth outlook for the U.S. economy.
    
    * Local share price index futures rose 0.3 percent
to 5,404.0, a 26.9-point discount to the underlying S&P/ASX 200
index close. The benchmark rose 0.3 percent on
Wednesday.
    * New Zealand's benchmark NZX 50 index slipped 0.3
percent to 4,852.6 in early trade.
    * U.S. stocks fell on Wednesday, with the S&P 500 snapping a
four-day streak of gains after the Federal Reserve said it had a
weaker growth outlook for the economy, even as it announced
plans to continue its stimulus program for the time being.
 
    * Copper rose to its highest level in a week on Wednesday,
boosted by expectations the U.S. Federal Reserve will prolong
its stimulus programme to aid recovery in the world's largest
economy.
    * Leighton Holdings Ltd said it had been awarded
A$249 million Bowen Basin coal contract. 
    * National Australia Bank Ltd, the country's top
lender by assets, said full-year cash earnings rose 9.3 percent
to a record high, boosted by earnings growth in all its banking
businesses and a lower charge for bad debts. 


------------------ MARKET SNAPSHOT @ 2158 GMT ------------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1,763.31    -0.49%    -8.640
USD/JPY                   98.41       -0.08%    -0.080
10-YR US TSY YLD     2.5378         --      0.031
SPOT GOLD                 1,342.09    -0.01%    -0.100
US CRUDE                  96.6        -0.18%    -0.170
DOW JONES                 15,618.76   -0.39%   -61.59
ASIA ADRS                150.34       0.05%     0.07
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 * S&P 500's rally ends after Fed; Facebook soars late    
 * U.S. oil slides for 2nd straight day; spread widens   
 * Gold drops as Fed statement offers few surprises      
 * Copper hits week high as Fed seen prolonging stimulus 
    
    For a digest of the day's business stories in Australian 
newspapers, double-click on: 

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

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