SYDNEY, March 2 (Reuters) - Australian stocks are seen
starting lower on Monday after ongoing worries about the global
financial sector saw Wall Street fall further on Friday.
U.S. stocks took another battering on worries the government would continue to increase its role in the country's major banks and gloomy fourth-quarter growth data.
Australian March share price index (SPI) futures fell 40 points to 3,276 points, a 68.5-point discount to Friday's close in the underlying share index, when the market ended flat.
Official data on business inventories and company profits for the fourth quarter are due at 11.30 a.m (0030 GMT), while the TD-MI inflation gauge for February is out at 10.30 a.m.
Australia and New Zealand Banking Group Ltd will be in focus after sources told Reuters late on Sunday that it has hired Credit Suisse to advise on a potential $2 billion bid for Royal Bank of Scotland's Asian units..
New Zealand's benchmark NZX 50 index fell 0.6 percent to 2,506.3 in early trade. ----------------------MARKET SNAPSHOT @ 2137 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 735.09 -2.36% -17.740 USD/JPY 97.68 -0.83% -0.820
10-YR US TSY YLD 3.0205 -
0.000 SPOT GOLD 939.9 0.00% 0.000 US CRUDE 44.39 -1.84% -1.100 DOW JONES 7062.93 -1.66% -119.15 ASIA ADRS 78.85 -0.66% -0.52
* Bank fear sends S&P to worst-ever start to year
* Oil pulled lower by dismal U.S. GDP data
* Gold drops for 5th straight day on weak stocks
* Copper ends up as Bernanke boosts sentiment
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))
DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Australia diary Wall Street Week Ahead Eurostocks Week Ahead ................................................................ For latest top breaking news across all markets ................................................................ TOP NEWS SUMMARIES ON OTHER SUBJECTS | U.S. Companies | European Companies | | Forex | Global Economy | | Tech.Media,Telecoms | Banking, Financials | | Politics & General | Sports | ................................................................ MAJOR STOCK MARKET REPORTS New York Weekly outlook New York Pan-Europe Weekly outlook Europe London Weekly outlook London Tokyo ................................................................ ASIA STOCK MARKETS Pan-Asia...................... Bangkok...... Karachi........ S/east Asia. Bombay....... Kuala Lumpur... Sydney/NZ... China........ Seoul.......... Taipei...... Hong Kong.... Singapore...... Tokyo........ ................................................................ Access to some items may depend on subscription level. ................................................................ UP-TO-THE-MINUTE HEADLINES Company results Economic indicators Mergers & acquisitions Interest rates LIVE PRICES & DATA World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt HOW TO FIND INFORMATION YOU NEED | | | | | || | | | LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt Australian dollar LME price overview Keywords: MARKETS AUSTRALIA STOCKS (Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News, please visit http://topnews.reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
U.S. stocks took another battering on worries the government would continue to increase its role in the country's major banks and gloomy fourth-quarter growth data.
Australian March share price index (SPI) futures fell 40 points to 3,276 points, a 68.5-point discount to Friday's close in the underlying share index, when the market ended flat.
Official data on business inventories and company profits for the fourth quarter are due at 11.30 a.m (0030 GMT), while the TD-MI inflation gauge for February is out at 10.30 a.m.
Australia and New Zealand Banking Group Ltd will be in focus after sources told Reuters late on Sunday that it has hired Credit Suisse to advise on a potential $2 billion bid for Royal Bank of Scotland's Asian units..
New Zealand's benchmark NZX 50 index fell 0.6 percent to 2,506.3 in early trade. ----------------------MARKET SNAPSHOT @ 2137 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 735.09 -2.36% -17.740 USD/JPY 97.68 -0.83% -0.820
10-YR US TSY YLD 3.0205 -
0.000 SPOT GOLD 939.9 0.00% 0.000 US CRUDE 44.39 -1.84% -1.100 DOW JONES 7062.93 -1.66% -119.15 ASIA ADRS 78.85 -0.66% -0.52
* Bank fear sends S&P to worst-ever start to year
* Oil pulled lower by dismal U.S. GDP data
* Gold drops for 5th straight day on weak stocks
* Copper ends up as Bernanke boosts sentiment
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))
DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Australia diary Wall Street Week Ahead Eurostocks Week Ahead ................................................................ For latest top breaking news across all markets ................................................................ TOP NEWS SUMMARIES ON OTHER SUBJECTS | U.S. Companies | European Companies | | Forex | Global Economy | | Tech.Media,Telecoms | Banking, Financials | | Politics & General | Sports | ................................................................ MAJOR STOCK MARKET REPORTS New York Weekly outlook New York Pan-Europe Weekly outlook Europe London Weekly outlook London Tokyo ................................................................ ASIA STOCK MARKETS Pan-Asia...................... Bangkok...... Karachi........ S/east Asia. Bombay....... Kuala Lumpur... Sydney/NZ... China........ Seoul.......... Taipei...... Hong Kong.... Singapore...... Tokyo........ ................................................................ Access to some items may depend on subscription level. ................................................................ UP-TO-THE-MINUTE HEADLINES Company results Economic indicators Mergers & acquisitions Interest rates LIVE PRICES & DATA World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt HOW TO FIND INFORMATION YOU NEED | | | | | || | | | LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt Australian dollar LME price overview Keywords: MARKETS AUSTRALIA STOCKS (Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News, please visit http://topnews.reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.