Reuters: Hot Stocks: Australia shares to consolidate break above 4,400

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Australia shares to consolidate break above 4,400 Nov 22nd 2012, 22:37 Tweet Share this Email Print Related Topics Basic Materials » Cyclical Consumer Goods » Energy » Thu Nov 22, 2012 5:37pm EST CANBERRA, Nov 23 (Reuters) - Australian shares will look to consolidate their return above 4,400 points on Friday, with the market lacking early drivers after U.S. markets were closed for a holiday. * Local share price index futures edged up 0.1 percent, or 4 points, to 4,427, a 13.9-point premium to the underlying S&P/ASX 200 index close. The benchmark rose 1 percent to its highest close in 10 days on Thursday. * New Zealand's benchmark NZX 50 index rose 0.2 percent to 4,006.3 in early trade. * U.S. markets were closed on Thursday for the Thanksgiving holiday. * Copper rose on Thursday after a manufacturing survey from top consumer China boosted optimism about the pace of economic recovery, with a weaker dollar against the euro also helping to lift metals prices. * The China HSBC Flash Manufacturing Purchasing Managers Index (PMI) rose to a 13-month high of 50.4 in November, the latest indicator of recovery in Australia's top export market. . * Australia's struggling department chain David Jones Ltd will hold its annual shareholder meeting on Friday. * Copper miner Discovery Metals Ltd will respond officially to the A$824 million offer from China's Cathay Fortune Corp around Nov 23. The suitor has gone hostile after the miner's board rejected a similar offer in October. ----------------------MARKET SNAPSHOT @ 2203 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1391.03 0.23% 3.220 USD/JPY 82.44 -0.01% -0.010 10-YR US TSY YLD 1.6796 -- 0.000 SPOT GOLD 1729.05 0.00% 0.000 US CRUDE 87.11 -0.31% -0.270 DOW JONES 12836.89 0.38% 48.38 ASIA ADRS 120.25 0.41% 0.49 ------------------------------------------------------------- * Oil dips in holiday-thinned trade on Gaza, EU data * Gold inches up as stocks rise, dollar fades * Copper gains on China economic outlook, dollar's fall 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; Editing by John Mair) 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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