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Australia shares set to open lower, results to dominate

Published 25/08/2016, 09:23 am
© Reuters.  Australia shares set to open lower, results to dominate
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MELBOURNE, Aug 25 (Reuters) - Australian shares are set to open lower, under pressure from mining and energy stocks, while results and outlooks from Woolworths, South32, Amcor and other top 200 companies will offer additional direction.

Local share price index futures YAPcm1 slipped 0.1 percent to a 24.7-point discount to the underlying S&P/ASX 200 index .AXJO close, pointing to a weaker opening. The benchmark inched up 0.1 percent on Wednesday.

New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.2 percent to 7,423.21 in early trade.

Woolworths WOW.AX , Australia's biggest grocer, reported its first annual loss, as expected, hit by big write-offs on its exit from hardware. Its underlying profit before one-offs slid 39 percent to A$1.558 billion, in line with market forecasts. AMC.AX beat analysts' forecasts with a 7.5 percent rise in underlying annual profit to $671 million. Analysts' forecasts were around $594 million, according to Thomson Reuters I/B/E/S. South32 S32.AX reported a 76 percent drop in underlying annual earnings to $138 million, but that was better than analysts had feared, and it paid a final dividend of 1 cent a share, while the market had expected no dividend. a summary of overnight action across global markets, double click on AU/CALL

For a digest of the day's business stories in Australian newspapers, double click on PRESS/AUB

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