SYDNEY, Oct 20 (Reuters) - Australian shares are set for a mixed open on Monday with weaker U.S. stocks, following bleak U.S. data on consumer confidence and construction, offsetting potential gains for resources stocks.
On Wall Street, the Dow shed 1.4 percent on Friday as recession worries continued to nag, but did manage to post its best weekly gain in over five years to snap a disastrous three week losing streak.
Australia's December share price index (SPI) futures fell 21 points to 4,030.0, but was at a 59.2-point premium to the underlying index on Friday.
On Friday, The benchmark S&P/ASX 200 index fell 42.56 points to 3,970.8 after rising as high as 4,150.4. For the week, the index ended flat.
Top miner BHP Billiton is projected to rise about 2.8 percent, based on its New York close, helped by firmer base metals prices.
The CRB index of commodity prices gained 2.35 percent on Friday.
Australia releases producer prices data for the September quarter at 11.30 a.m. (0030 GMT).
New Zealand's benchmark NZX-50 index rose 0.4 percent to 2,819.4 in early trade.
----------------------MARKET SNAPSHOT @ 2102 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 946.43 4.25% 38.590 USD/JPY 101.56 1.8% 1.800
10-YR US TSY YLD 3.9685 -
0.019 SPOT GOLD 803.3 -5.27% -44.700 US CRUDE 72.22 -3.11% -2.320 DOW JONES 8979.26 4.68% 401.35 BoNY ASIAN ADRs 97.25 3.67% 3.44
* Wall Street slips as recession worries
* Oil rises $2 on OPEC, global markets
* Gold drops 2 pct as dollar firms, oill pares gains
* Copper ends higher with equities, lead up 7 pct
For a summary of business stories in Australian newspapers, double click on. . 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.
On Wall Street, the Dow shed 1.4 percent on Friday as recession worries continued to nag, but did manage to post its best weekly gain in over five years to snap a disastrous three week losing streak.
Australia's December share price index (SPI) futures fell 21 points to 4,030.0, but was at a 59.2-point premium to the underlying index on Friday.
On Friday, The benchmark S&P/ASX 200 index fell 42.56 points to 3,970.8 after rising as high as 4,150.4. For the week, the index ended flat.
Top miner BHP Billiton is projected to rise about 2.8 percent, based on its New York close, helped by firmer base metals prices.
The CRB index of commodity prices gained 2.35 percent on Friday.
Australia releases producer prices data for the September quarter at 11.30 a.m. (0030 GMT).
New Zealand's benchmark NZX-50 index rose 0.4 percent to 2,819.4 in early trade.
----------------------MARKET SNAPSHOT @ 2102 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 946.43 4.25% 38.590 USD/JPY 101.56 1.8% 1.800
10-YR US TSY YLD 3.9685 -
0.019 SPOT GOLD 803.3 -5.27% -44.700 US CRUDE 72.22 -3.11% -2.320 DOW JONES 8979.26 4.68% 401.35 BoNY ASIAN ADRs 97.25 3.67% 3.44
* Wall Street slips as recession worries
* Oil rises $2 on OPEC, global markets
* Gold drops 2 pct as dollar firms, oill pares gains
* Copper ends higher with equities, lead up 7 pct
For a summary of business stories in Australian newspapers, double click on. . 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.