Reuters: Hot Stocks: Australia shares seen edging up on stronger miners, eye U.S. jobs

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Australia shares seen edging up on stronger miners, eye U.S. jobs Dec 6th 2012, 22:40 Tweet Share this Email Print Related Topics Cyclical Consumer Goods » Thu Dec 6, 2012 5:40pm EST Dec 7 (Reuters) - Australian shares are poised to inch up on Friday, tracking modest gains in global shares, with miners likely to be supported by rebounding iron ore prices, but with buying likely cautious ahead of U.S. jobs data. * Local share price index futures rose 0.3 percent to 4,528, a 18.7-point premium to the underlying S&P/ASX 200 index close. The benchmark slipped 0.3 percent on Thursday. * New Zealand's benchmark NZX 50 index was nearly flat, edging 0.3 points lower to 4,023.0 in early trade. * U.S. stocks closed modestly higher on Thursday, a day ahead of the key monthly jobs report, as a rebound in shares of Apple Inchelped boost technology shares. * Copper fell on Thursday along with a drop in the euro after the European Central Bank sharply downgraded its outlook for the region's economy, and on investor anxiety over the slow progress in budget negotiations in the United States. * Australian employment, released on Thursday, outstripped expectations for a second month in November and the jobless rate surprised everyone with a drop to 5.2 percent, an encouraging report that could lessen the urgency for more interest rate cuts. * Department store Myer Holdings Ltd will hold its annual general meeting on Thursday. ----------------------MARKET SNAPSHOT @ 2202 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1413.94 0.33% 4.660 USD/JPY 82.38 -0.01% -0.010 10-YR US TSY YLD 1.5891 -- -0.002 SPOT GOLD 1699.4 0.05% 0.780 US CRUDE 86.41 -1.67% -1.470 DOW JONES 13074.04 0.30% 39.55 ASIA ADRS 123.57 0.47% 0.58 ------------------------------------------------------------- * Apple's gains lift tech in quiet day before jobs data * Oil falls on euro zone concerns, dollar strength * Gold up on ECB rate cut talk, non-farm payrolls eyed * Copper dips on dollar, US budget talks anxiety 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) (Reporting By Maggie Lu Yueyang) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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