September 29, 2013 / 11:19 PM / 4 years ago

Australia shares seen slipping on US worries

SYDNEY, Sept 30 (Reuters) - Australian shares are set to ease in early trade on Monday, slipping from a five-year high, after Wall Street fell on concerns over a looming fiscal deadline.

* Local share price index futures fell 0.2 percent, an 11.1-point discount to the underlying S&P/ASX 200 index close. The benchmark edged 0.2 percent higher on Friday to hit a five-year high.

* New Zealand’s benchmark NZX 50 index fell 0.5 percent in early trade.

* U.S. stocks declined on Friday and the S&P 500 and Dow posted their first weekly drop in four, as Democrat and Republican lawmakers struggled to agree on an emergency funding bill to avert a U.S. government shutdown days away.

* President Barack Obama warned the U.S. Congress on Friday against a government shutdown on Oct. 1 as lawmakers struggled to pass an emergency spending bill that Republicans want to use to defund Obama’s healthcare reform law.

* Copper rose, supported by optimism about improving demand in top consumer China, although lingering concerns about the U.S. fiscal outlook kept investors cautious and capped gains. Gold prices ended up about 1.0 percent.

* Discovery Metals Ltd’s deadline faces a deadline on Monday for recommending a takeover offer.

* Australian monthly inflation gauge and private sector credit data is due out later in the day.

----------------------MARKET SNAPSHOT @ 2251 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG S&P 500 1691.75 -0.41% -6.920 USD/JPY 97.87 -0.37% -0.360 10-YR US TSY YLD 2.6281 -- 0.000 SPOT GOLD 1340.06 0.37% 4.910 US CRUDE 102.07 -0.78% -0.800 DOW JONES 15258.24 -0.46% -70.06 ASIA ADRS 147.79 -0.90% -1.34 -------------------------------------------------------------

* Wall St Falls as U.S. Government faces possible shutdown * Oil falls as U.S. and Iran look for nuclear deal * Gold holds 1 pct gains on U.S. fiscal uncertainty * Copper rises as China recovery boosts demand hopes

For a digest of the day’s business stories in Australian newspapers, double click on

Reporting by Thuy Ong; Editing by Richard Pullin

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below