Australia shares seen slightly firmer, oil prices rise

SYDNEY, Aug 19 (Reuters) - Australian shares are set to open

modestly higher on Wednesday after a fall in the previous

session, with attention on a fresh round of earnings results.

Woodside Petroleum Ltd (Xetra: WOP.DE - news) , Australia's largest

independent oil and gas producer, reported a 40 percent drop in

first-half profit, slightly better than feared.

Treasury Wine Estates, the world's biggest

standalone wine company, swung back to a profit, while property

group Stockland Corp will also report earnings.

The local share price index futures rose 10 points

to 5,279, a 24.1-point discount to the underlying S&P/ASX 200

index close. The benchmark fell 1.2 percent or 65.5

points on Monday.

U.S (Other OTC: UBGXF - news) . stocks fell on Tuesday, while crude oil prices rallied.

New Zealand's benchmark NZX (Other OTC: NZSTF - news) 50 index rose 12.9

points in early trade.

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(Reporting by Pauline Askin; Editing by Richard Pullin)