Australia shares seen lower on U.S. mkts, metal prices

WELLINGTON, Oct 24 - Australian shares are set to fall on
Wednesday after a slide in the U.S. market on the back of weak
corporate results, with mining stocks at risk following a slump
in metal prices.
* Local share price index futures fell 40.0 points
to 4,492, a 51.1-point discount to the underlying S&P/ASX 200
index. The benchmark nudged up 2.1 points, or 0.05
percent , to 4,543.1 on Tuesday.
* New Zealand's benchmark NZX 50 index fell 0.5
percent to 3,983.77 in early trade, retreating from a 4 1/2-year
closing high of 4,004.26 hit on Tuesday, as consumer good
companies took a hit from increasing risk aversion.
* Wall Street slid after results from DuPont and
United Technologies disappointed, driving investors into
Treasuries and the safe-haven U.S. dollar.
* The HSBC Flash China manufacturing PMI is due on
Wednesday, and signs of a further slowdown in the world's No. 2
economy could trigger more selling in mining shares if it raises
concerns about slowing demand for Australian resource exports.
* Stock losses may be limited if domestic CPI data at 0030
GMT show benign inflation pressures, which would increase
expectations of an interest rate cut next month.
* Commodity prices fall broadly on Tuesday, with three-month
copper hitting an intraday low of $7,807.75, its weakest
since early September, and most metals prices plumbed their
lowest in more than a month.
* As a result, market participants expect mining shares to
take a hit when the market opens, with some expecting BHP
Billiton to fall as much as roughly 2 percent.
* Fairfax Media shareholders are expected to
question the board over the company's market capitalisation
being less than net debt listed in its 2012 accounts.
* Tatts Group also holds its annual general
meeting.
* Shares gas distributor APA Group could rise after
it raises its earnings guidance on Wednesday.

----------------------MARKET SNAPSHOT @ 2237 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 1413.11 -1.44% -20.710
USD/JPY 79.87 0.04% 0.030
10-YR US TSY YLD 1.7607 -- 0.000
SPOT GOLD 1708.59 0.03% 0.500
US CRUDE 86.58 -0.10% -0.090
DOW JONES 13102.53 -1.82% -243.36
ASIA ADRS 120.03 -1.82% -2.22
-------------------------------------------------------------

* Weak outlooks doom Dow to worst day in 4 months
* Oil slumps on growth concerns, corporat forecast cuts
* Gold down 1 pct near $1,700/oz on economic fears
* Copper slides to 6-week low on Europe, China fears

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(Reporting by Naomi Tajitsu; Editing by John Mair)