Australia shares seen buoyed by miners

Mon Aug 12, 2013 6:30pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

MELBOURNE, Aug 13 (Reuters) - Australian shares may open a
touch higher, underpinned by the miners on rising gold prices
and surprisingly resilient iron ore prices, while investors keep
a close eye on corporate results.
       
    * Local share price index futures rose 0.2 percent
to 5,069.0, but that was a 39.7-point discount to the underlying
S&P/ASX 200 index close. The benchmark rose 1.1 percent
on Monday.
    * New Zealand's benchmark NZX 50 index picked up 2.9
points to 4,525.2 in early trade.
    * On Wall Street, the Dow and the S&P 500 indexes dipped on
Monday, extending losses from Wall Street's worst week since
June last week, but Apple and BlackBerry helped
to lift the Nasdaq index.
    * Copper slipped while aluminium extended gains on Monday as
signs of a pickup in top metals consumer China and expectations
of encouraging euro zone data came up against a rise in the
dollar. Gold rose nearly 2 percent.
    * Real estate investment trust Stockland Group is
due to report full year results on Tuesday. Analysts are
expecting underlying profit to fall 27 percent to A$491 million
for the year to June 2013, according to Thomson Reuters I/B/E/S.
    * Coal miner shares may face some pressure after Mongolia
miner SouthGobi Resources  withdrew its full
year forecast for semi-soft coking coal, citing weak demand in
China. 
   

----------------------MARKET SNAPSHOT @ 2214 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1689.47     -0.12%    -1.950
USD/JPY                   97.14        0.26%     0.250
10-YR US TSY YLD     2.6215          --     0.000
SPOT GOLD                 1336.01      0.02%     0.220
US CRUDE                  106.24       0.12%     0.130
DOW JONES                 15419.68    -0.04%     -5.83
ASIA ADRS                141.79       0.32%      0.46
-------------------------------------------------------------   
                                                        
        
  * Dow, S&P 500 end lower; BlackBerry, Apple lift Nasdaq   
  * Oil rises on Libya supply disruptions                  
  * Gold up nearly 2 pct on ETF inflow                    
  * Copper dips, aluminium up on China data, firm dollar 
    
    For a digest of the day's business stories in Australian 
newspapers, double click on    
        
 (Australia/New Zealand bureaux; +61 2 9373 1800/+64 4 471 
4234)