Australia shares seen lower on US, euro growth concerns

SYDNEY: Australian shares are set to open lower on Friday after Wall Street fell on concerns about the US and euro zone economies, and traders will watch testimony from the Reserve Bank of Australia Governor for an update on the local economy.

Local share price index futures fell to 4,961, a 19.1 point discount to the underlying S&P/ASX 200 index close.

New Zealand's benchmark NZX 50 index rose 2.2 points to 4,172.61 in early trade.

In New York, the S&P 500 posted its worst 2-day loss since November.

Copper slid to its weakest in nearly two months on Thursday on worries about a lack of demand from top consumer China and slow growth in Europe. Oil fell 1 percent.

RBA Governor Glenn Stevens appears before the House of Representatives Standing Committee on Economics on Friday, answering questions about the economy and policy.

Oil and gas producer Santos reported a 34 percent rise in annual profit after lifting gas production and said its major LNG development projects remained on track.