Reuters: Hot Stocks: Australia shares seen down on Fed uncertainty, earnings, China data eyed

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Australia shares seen down on Fed uncertainty, earnings, China data eyed Aug 7th 2013, 23:26 SYDNEY | Wed Aug 7, 2013 7:26pm EDT SYDNEY Aug 8 (Reuters) - Australian shares are likely to start lower on Thursday after Wall Street suffered a third-day of losses on lingering uncertainty about the U.S. stimulus outlook, with focus turning to China's trade data and earnings from the likes of Rio Tinto Ltd. * Australia's share price index futures slipped 0.2 percent to 4,957, a 54.3-point discount to the underlying S&P/ASX 200 index close on Wednesday. The local benchmark dropped 1.9 percent on Wednesday, its biggest fall in 5-1/2 weeks. * Caution is likely to prevail ahead of trade data from China, Australia's single biggest export market. * Miners could give a boost after global miner BHP Billiton 's U.S ADRs rose 0.4 percent. * New Zealand's benchmark NZX 50 index fell 0.1 percent in early trade. * U.S. stocks lost ground for a third consecutive session on Wednesday on growing uncertainty over when the Federal Reserve may start to wind down its stimulus, which has been a driving force behind the rally in equities this year. * Copper steadied and gold rose to snap a two-day losing streak on Wednesday as the dollar fell, but gains were limited ahead of data from top metals consumer China and on concern about the winding down of U.S. monetary stimulus measures. * Rio Tinto is due to report its first half earnings later on Thursday. Elsewhere, Rio Tinto's Alcan division said on Wednesday it will shut down its aluminum smelter in Shawinigan, Quebec, by the end of November. * Australia's biggest phone company Telstra posted a 13 percent rise in full-year net profit on Thursday, underpinned by growth in its mobile business. ----------------------MARKET SNAPSHOT @ 2251 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1690.91 -0.38% -6.460 USD/JPY 96.45 0.13% 0.130 10-YR US TSY YLD 2.5986 -- 0.000 SPOT GOLD 1284.84 -0.18% -2.300 US CRUDE 104.24 -0.12% -0.130 DOW JONES 15470.67 -0.31% -48.07 ASIA ADRS 139.74 -1.23% -1.74 ------------------------------------------------------------- * Wall St slips for third day on Fed uncertainty * Oil down for 4th day on rising North Sea output, Fed * Gold rises on dollar drop, Fed outlook eyed * Copper steadies as dollar falls, China fears limit gains 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 and Thuy Ong; Editing by Shri Navaratnam) Link this Share this Digg this Email Reprints

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