October 23, 2013 / 10:21 PM / 4 years ago

Australia shares seen under pressure after Wall St slips, metal prices weigh

SYDNEY, Oct 24 (Reuters) - Australian stocks were set to
have a cautious start on Thursday, after Wall Street fell on
concerns about revenue growth and company forecasts, with lower
metal prices set to dampen miners.
    * Local share price index futures rose 0.1 percent,
but was still a 6.1-point discount to the underlying S&P/ASX 200
index close on Wednesday.
    The index fell 0.3 percent in the last session, snapping a
six-day winning streak as higher-than-expected inflation data
reduced the odds of further interest rate cuts.
    * New Zealand's benchmark NZX 50 index fell 0.3
percent to 4,861.5 in early trade.
    * U.S. stocks fell on Wednesday as shares of heavy-equipment
maker Caterpillar and semiconductor companies tumbled after they
reported earnings, ending the S&P 500's four-session streak of
record high finishes.
    * Copper slid more than 2 percent on Wednesday as fears of
tighter monetary policy in top metals user China outweighed
speculation that tepid U.S. jobs data will deter the Federal
Reserve from tapering its stimulus this year.
    * Amcor said at its annual general meeting it
remains confident of delivering increased earnings in the 2014
financial year. 
    * Suncorp Group Ltd, Newcrest Mining, Toll
Holdings and BHP Billiton  are also
holding annual general meetings on Thursday.
------------------ MARKET SNAPSHOT @ 2205 GMT ------------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1,746.38    -0.47%    -8.290
USD/JPY                   97.36           0%     0.000
10-YR US TSY YLD     2.498           --     0.000
SPOT GOLD                 1,330.91    -0.06%    -0.830
US CRUDE                  97.2         0.35%     0.340
DOW JONES                 15,413.33   -0.35%    -54.33
ASIA ADRS                149.76      -1.89%     -2.89

* Wall St ends down as Caterpillar falls, Boeing rallies 
* Oil down as U.S. inventories rise, spread trade volatile 
* Gold lower on profit-taking after 4-week high, weak oil 
* Copper falls on worries over China tightening 
    For a digest of the day's business stories in Australian 
newspapers, double-click on: 

 (Reporting by Maggie Lu Yueyang)

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