August 31, 2014 / 11:01 PM / 3 years ago

Australia shares seen tracking slightly lower following subdued Wall St

Australian shares are likely to trade slightly lower on Monday
as investors take a subdued lead from Wall St and wait for a
series of key economic announcements expected this week.
    *Local share price index futures were trading at
5613 before the open, a 13-point discount to the underlying
S&P/ASX 200 index close on Friday. It broke a two-week
winning streak to fall 0.35 percent on the week.
    *New Zealand's NZX 50 index fell 0.12 percent or
6.43 points to 5,216.87 in early trade. 
    *United States stocks closed out a strong month on a quiet
note on Friday, with the S&P 500 posting a modest gain to close
at a new record as the latest positive data helped extend a
rally that had been briefly threatened by overseas concerns.
    *Concerns about Ukraine pushed up metals and oil prices with
fears that the growing political crisis engulfing the country
may hamper global demand for commodities.
    *Russian President Vladimir Putin called for talks on
southern and eastern Ukraine as Europe and the United States
prepared further possible sanctions aimed at curbing Russian
involvement in the Ukraine war.
    *Australia's Reserve Bank is expected to keep the official
interest rate at a record low following its monthly board
meeting on Tuesday. Investors will also be watching its
commentary for signs the low interest rate environment is
encouraging more business investment.
    *Australian quarterly GDP figures due out on Wednesday will
also give investors a lead, now that most companies have
announced full-year earnings reports. 
 ----------------------MARKET SNAPSHOT @ 2253 GMT ------------
                     INSTRUMENT   LAST       PCT CHG   NET CHG
 S&P 500                          2003.37      0.33%     6.630
 USD/JPY                          104.09       0.04%     0.040
 10-YR US TSY YLD                 2.3448          --     0.000
 SPOT GOLD                        1286.06     -0.08%    -1.010
 US CRUDE                         95.78       -0.19%    -0.180
 DOW JONES                        17098.45     0.11%     18.88
 ASIA ADRS                        154.08       0.34%      0.52
  * Wall St                                                 
  * Oil                                                    
  * Gold                                                  
  * Copper                                               
    For a digest of the day's business stories in Australian 
newspapers, double click on    

 (Editing by Sandra Maler)

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