March 27, 2014 / 10:36 PM / in 4 years

Australia shares seen subdued as Wall St struggles

Australian shares are set for a subdued open on Friday following
a sell off in banking and technology stocks on Wall Street. Gold
fell about 1 percent which may impact mining stocks. However,
the focus will be on the Reserve Bank of Australia when it meets
next Tuesday for it's policy review.  
    * Local share price index futures fell 4 points to
5,341, a 9 point discount to the underlying S&P/ASX 200 index
 close. The benchmark dropped 26.66 points to 5,350 at
close on Thursday.
    * New Zealand's benchmark NZX 50 index fell 12
points to 5,114.52 in early trade.
    * Citigroup Inc suffered their biggest daily decline
since 2012 after the Federal Reserve rejected their capital
plan.  The S&P financial index lost 0.6 percent, the
worst-performing sector. 
    * Gold fell about 1 percent to a six-week low, while crude
oil prices rose. Copper rose on European and Chinese demand,
while iron ore edged up for a third straight session. 
                                                                                  
 ----------------------MARKET SNAPSHOT @ 2159 GMT ------------
                     INSTRUMENT   LAST       PCT CHG   NET CHG
 S&P 500                          1849.04     -0.19%    -3.520
 USD/JPY                          102.23       0.06%     0.070
 10-YR US TSY YLD                 2.6829          --    -0.020
 SPOT GOLD                        1291.14      0.04%     0.500
 US CRUDE                         101.33       0.05%     0.050
 DOW JONES                        16264.23    -0.03%     -4.76
 ASIA ADRS                        139.75       0.61%      0.85
 -------------------------------------------------------------                    
 
       
  * Wall St slips as banks, techs, drag; S&P flat for 2014 
  * Oil rises on seasonal demand, geopolitical concerns   
  * Gold down about 1 pct on strong U.S. Growth outlook  
  * Copper gains as demand improves, aluminum volatile 
    
    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)

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