SYDNEY, Oct 13 (Reuters) - Australian shares are set for a firmer open on Monday, after plunging 16 percent last week, with investors likely to find some comfort from the government's plan to guarantee all bank deposits.
Wall Street shares fell for an eighth straight session on Friday, as anxiety about credit markets and the threat of a global recession continued to grip the market, though the scale of the fall was less than the losses seen earlier in the week.
December share price index futures rose 27 points to 4,080, a 119.3-point premium to the close in Australia's benchmark S&P/ASX 200 index on Friday.
Australia and New Zealand on Sunday gave a blanket guarantee to all bank deposits. For more see:.
Resource companies could be a drag on the main index after commodities prices took a beating on global recession fears.
ANZ Bank releases its monthly survey on internet and newspaper job ads at 11.30 a.m. (0030 GMT).
New Zealand's benchmark NZX-50 index fell 0.7 percent to 2,784.9 in early trade. ----------------------MARKET SNAPSHOT @ 2111 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 899.22 -1.18% -10.700 USD/JPY 100.96 1.16% 1.150
10-YR US TSY YLD 3.8801 -
0.000 SPOT GOLD 847.4 0.00% 0.000 US CRUDE 79.84 -7.80% -6.750 DOW JONES 8451.19 -1.49% -128.00 ASIA ADRS 91.59 -2.86% -2.70
* U.S. stocks end mostly lower after wild session
* Oil drops 10 percent on demand, risk concerns
* Gold falls more than 2 pct, silver tumbles
* Copper slumps 14% on deepening recession fears
For a summary of business stories in Australian newspapers, double click on.
(Reporting by James Thornhill, editing by ) . 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.
Wall Street shares fell for an eighth straight session on Friday, as anxiety about credit markets and the threat of a global recession continued to grip the market, though the scale of the fall was less than the losses seen earlier in the week.
December share price index futures rose 27 points to 4,080, a 119.3-point premium to the close in Australia's benchmark S&P/ASX 200 index on Friday.
Australia and New Zealand on Sunday gave a blanket guarantee to all bank deposits. For more see:.
Resource companies could be a drag on the main index after commodities prices took a beating on global recession fears.
ANZ Bank releases its monthly survey on internet and newspaper job ads at 11.30 a.m. (0030 GMT).
New Zealand's benchmark NZX-50 index fell 0.7 percent to 2,784.9 in early trade. ----------------------MARKET SNAPSHOT @ 2111 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 899.22 -1.18% -10.700 USD/JPY 100.96 1.16% 1.150
10-YR US TSY YLD 3.8801 -
0.000 SPOT GOLD 847.4 0.00% 0.000 US CRUDE 79.84 -7.80% -6.750 DOW JONES 8451.19 -1.49% -128.00 ASIA ADRS 91.59 -2.86% -2.70
* U.S. stocks end mostly lower after wild session
* Oil drops 10 percent on demand, risk concerns
* Gold falls more than 2 pct, silver tumbles
* Copper slumps 14% on deepening recession fears
For a summary of business stories in Australian newspapers, double click on.
(Reporting by James Thornhill, editing by ) . 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.