SYDNEY, July 25: Australian shares are set to open lower on Wednesday after European and U.S. Markets fell on signs that the euro zone crisis is worsening, weighing on company earnings.
· Share price index futures lost 31 points to 4,054, a 79.2 point discount to the close of the underlying S&P/ASX 200 index.
· New Zealand’s benchmark NZX 50 index slipped 5.7 points, or 0.2 percent, to 3,455.0 points in early trade.
· U.S. Stocks fell for a third session on Tuesday, as Wall Street was hit by Europe’s slowdown. The Dow Jones industrial average fell 0.8 percent.
· Shares in Apple Inc fell 5 percent after it reported its second quarterly results miss in less than 12 months. Consumers held off on buying the iPhone ahead of a new version expected later this year.
· Copper prices fell on Tuesday in Europe and the United States as European growth worries offset optimism from upbeat Chinese factory data.
· Gold edged up after European Union officials predicted Greece will require more debt restructuring, prompting investors
to buy the precious metal as a safe haven.
———————————MARKET SNAPSHOT z 2244 GMT ——————
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 1338.31 -0.9% -12.210
USD/JPY 78.18 0.01% 0.010
10-YR US TSY YLD 1.3908 — 0.000
SPOT GOLD 1582.04 0.14% 2.200
US CRUDE 88.14 -0.41% -0.360
DOW JONES 12617.32 -0.82% -104.14
ASIA ADRS 111.74 -0.53% -0.59
· Wall St falls as Europe hits earnings; Apple falls
· Oil up on China data, but Europe concerns limit rise
· Gold edges up on euro zone feers, dollar limits gains
· Copper turns lower as European debt fears bite (agencies)
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