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Australia shares seen lower on economy worries
Thursday October 29, 09:33 AM
SYDNEY, Oct 29 (Reuters) - Australian stocks are set to continue their run of losses on Thursday after disappointing U.S. data raised concerns over the health of an economic recovery and sent Wall Street tumbling.
Australia & New Zealand Bank (ASX: ANZ.ax) will be a focus after it reports full-year earnings, due before the market opens. It is seen reporting a 50 percent rise in its second-half cash profit.
Its chief executive had said in August that bad debts had started to bottom out.
Resource stocks may struggle after falls in metals and oil prices.
Share index futures YAPcm1 stood at 4,612 points, a 73.1 point discount to the 4,685.1 close in the S&P/ASX 200 index .AXJO on Wednesday.
Retailer Myer's institutional bookbuild closes. Also on the calendar, annual meetings are being held by Toll Holdings (ASX: TOL.ax) , AGL Energy AGK.AX and Newcrest Mining (ASX: NCM.ax) .
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