SYDNEY, Aug 8 (Reuters) - Australian shares are likely to fall on Friday, tracking Wall Street lower after a big loss for American International Group <AIG.N> fueled fears of further fallout from the credit crisis.
Australia's September share price index (SPI) futures <YAPcm1> fell 58 points to settle at 4,917 -- a 66.3-point discount to the underlying share index's close on Thursday.
The benchmark S&P/ASX 200 index <.AXJO> rose 0.3 percent or 14.2 points to 4,983.3 on Thursday, adding to a 3.1 percent gain on Wednesday.
Westpac Banking Corp <WBC.AX>, Australia's fourth-largest lender, is due to update investors on its progress on Friday.
New Zealand's benchmark NZX 50 index <.NZ50> was off 1.6 percent, or 54.3 points, at 3,324.63 in early trade, led down by index heavyweight Telecom NZ <TEL.NZ>.
Telecom said it expected its 2008/09 profit to fall by as much as 30 percent, sending its shares down as much as 9 percent [nWEL116243]. ----------------------MARKET SNAPSHOT @ 2216 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1266.07 -1.79% -23.120 USD/JPY <JPY=> 109.32 -0% 0.000
10-YR US TSY YLD <US10YT=RR> 3.9276 -
0.000 SPOT GOLD <XAU=> 871.25 0.01% 0.050 US CRUDE <CLc1> 119.76 -0.22% -0.260 DOW JONES <.DJI> 11431.43 -1.93% -224.64 ASIA ADRS <.BKAS> 138.44 -2.89% -4.12
* AIG, Wal-Mart spark sell-off on Wall Street [.N]
* Oil rises on pipeline fire in Turkey [O/R]
* Gold ends down as dollar up on US home data [GOL/]
* Sluggish demand caps copper, nickel up over 6% [MET/L]
($1=A$1.10)
(Reporting by James Thornhill) . ng/ng COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Australia's September share price index (SPI) futures <YAPcm1> fell 58 points to settle at 4,917 -- a 66.3-point discount to the underlying share index's close on Thursday.
The benchmark S&P/ASX 200 index <.AXJO> rose 0.3 percent or 14.2 points to 4,983.3 on Thursday, adding to a 3.1 percent gain on Wednesday.
Westpac Banking Corp <WBC.AX>, Australia's fourth-largest lender, is due to update investors on its progress on Friday.
New Zealand's benchmark NZX 50 index <.NZ50> was off 1.6 percent, or 54.3 points, at 3,324.63 in early trade, led down by index heavyweight Telecom NZ <TEL.NZ>.
Telecom said it expected its 2008/09 profit to fall by as much as 30 percent, sending its shares down as much as 9 percent [nWEL116243]. ----------------------MARKET SNAPSHOT @ 2216 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1266.07 -1.79% -23.120 USD/JPY <JPY=> 109.32 -0% 0.000
10-YR US TSY YLD <US10YT=RR> 3.9276 -
0.000 SPOT GOLD <XAU=> 871.25 0.01% 0.050 US CRUDE <CLc1> 119.76 -0.22% -0.260 DOW JONES <.DJI> 11431.43 -1.93% -224.64 ASIA ADRS <.BKAS> 138.44 -2.89% -4.12
* AIG, Wal-Mart spark sell-off on Wall Street [.N]
* Oil rises on pipeline fire in Turkey [O/R]
* Gold ends down as dollar up on US home data [GOL/]
* Sluggish demand caps copper, nickel up over 6% [MET/L]
($1=A$1.10)
(Reporting by James Thornhill) . ng/ng COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2008 AFX News
