Reuters: Hot Stocks: Australian shares to open lower, set for weekly loss

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Australian shares to open lower, set for weekly loss Mar 21st 2013, 22:39 Tweet Share this Email Print Thu Mar 21, 2013 6:39pm EDT SYDNEY, March 22 (Reuters) - Australian shares are set to open lower on Friday as investors wait to see if Cyprus can meet the European Union's Monday deadline to raise billions of euros to secure an international bailout or face a financial system collapse.. Australian Prime Minister Julia Gillard survived a leadership crisis on Thursday, but worries over the stability of the government could weigh on shares. * Local share price index futures fell to 4,935, a 24.4 point discount to the close of the underlying S&P/ASX 200 index. The S&P/ASX 200 index fell 0.2 percent to 4,959.4 on Thursday, its fourth consecutive fall, to be down 3.1 percent so far this week. * New Zealand's benchmark NZX 50 index fell 0.1 percent to 4,339.7 in early trade. * U.S. stocks fell on Thursday as Oracle's revenue fell far short of expectations and worries intensified about the effect of Cyprus' troubles on the euro zone, with the Dow Jones industrial average ending down 0.6 percent. * Gold rose to its highest in nearly a month as investors switched out of copper and stocks on Cyprus fears. * After its shares plunged to a record low, troubled Australian surfwear firm Billabong International Ltd said it remains in talks with two groups weighing $544 million bids for the company ----------------------MARKET SNAPSHOT @ 2210 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1545.8 -0.83% -12.910 USD/JPY 95 0.13% 0.120 10-YR US TSY YLD 1.9147 -- 0.000 SPOT GOLD 1614.64 0.03% 0.550 US CRUDE 92.43 -0.02% -0.020 DOW JONES 14421.49 -0.62% -90.24 ASIA ADRS 135.44 -0.89% -1.21 ------------------------------------------------------------- * Wall St slides as Oracle drops, Cyprus worries escalate * Oil falls on demand outlook worries as Cyprus struggles * Gold hits nearly 1-month high on fears over Cyprus * Copper falls on Cyprus fears, firm dollar For a digest of the day's business stories in Australian newspapers, double click on (Reporting by Pauline Askin; Editing by John Mair) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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