Reuters: Hot Stocks: Australia shares seen extending falls on global uncertainty

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Australia shares seen extending falls on global uncertainty Jun 23rd 2013, 23:15 SYDNEY, June 24 | Sun Jun 23, 2013 7:15pm EDT SYDNEY, June 24 (Reuters) - Australian shares are set to extend losses on Monday as investors remain concerned about the impact of the Federal Reserve's plans to taper monetary stimulus and slowing growth in China. A rise in metals prices may offer some support to miners. * Local share price index futures fell 0.7 percent to 4,655, an 83.8-point discount to the underlying S&P/ASX 200 index close. The benchmark fell 1.1 percent last week. * New Zealand's benchmark NZX 50 index rose 0.2 percent in early trade. * U.S. stocks ended mostly higher on Friday, with the Dow and S&P 500 ending two days of heavy losses, though traders continued to fret over the Fed's planned changes to policy. * Copper rose off a 20-month low, but still ended down 4 percent for the week * Gold rose 1.3 percent, rebounding from nearly a three-year low earlier, but for the week it still dropped the most in nearly two years. * Australian insurance and wealth management company AMP Ltd warned its first half underlying profit would drop by around 13 percent due to high claims and policy lapses. ----------------------MARKET SNAPSHOT @ 2251 GMT ------------- INSTRUMENT LAST PCT CHG NET CHG S&P 500 1592.43 0.27% 4.240 USD/JPY 98.34 0.46% 0.450 10-YR US TSY YLD 2.5422 -- 0.000 SPOT GOLD 1298.64 0.15% 1.890 US CRUDE 93.74 0.05% 0.050 DOW JONES 14799.40 0.28% 41.08 ASIA ADRS 131.38 1.44% 1.86 -------------------------------------------------------------- * Wall St ends slightly up but slumps for the week * Oil falls, notches biggest 2-day drop since September * Gold up but drop for week is biggest since Sept 2011 * Copper gains but 20-month lows in sight on China woes For a digest of the day's business stories in Australian newspapers, double click on (Reporting by Thuy Ong; Editing by John Mair) Link this Share this Digg this Email Reprints

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