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Australia shares seen lower on U.S. jobs gloom
Friday July 3, 10:25 AM
SYDNEY, July 3 (Reuters) - Australian stocks are expected to start lower on Friday after a steeper-than-expected slide in U.S. payrolls led to hefty losses on Wall Street, raising fresh doubts on the health of the economy.
The major U.S. indices fell as much as 2.9 percent after the latest jobs report showed employers cut 467,000 jobs in June, taking the unemployment rate to 9.5 percent [ID:nN01210643].
Australian September share price futures YAPcm1 lost 82 points at 3,779 -- representing a 98.3-point discount to the underlying share index's close on Thursday, when it rose 0.1 percent.
New Zealand's benchmark NZX 50 index .NZ50 fell 0.3 percent in early trade to 2,759.04.
Global miner Rio Tinto Ltd (ASX: RIO.ax) is likely to be in focus after it said on Friday it had successfully completed the Australian portion of its $15.2 billion rights issue, with shareholder acceptances at 94.76 percent.
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