Reuters: Hot Stocks: Australia shares seen slipping on U.S. fiscal caution

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Australia shares seen slipping on U.S. fiscal caution Dec 16th 2012, 21:43 Tweet Share this Email Print Sun Dec 16, 2012 4:43pm EST MELBOURNE, Dec 17 (Reuters) - Australian shares are set to open lower on Monday on uncertainty over whether the United States will avoid steep tax hikes and spending cuts in two weeks that could trigger a recession. * Local share price index futures fell 0.2 percent to 4,571.0, a 12.1-point discount to the underlying S&P/ASX 200 index. The benchmark ended flat on Friday near a 17-month high. * New Zealand's benchmark NZX 50 index dipped 0.1 percent to 3,975.2 in early trade. * U.S. stocks fell on Friday as another slide in Apple took a toll and investors unloaded some shares because of the uncertainty surrounding the "fiscal cliff" negotiations. * Copper was steady on Friday, with a brightening economic outlook for big metal consumer China offsetting concerns about the euro zone's deteriorating economy and a potential fiscal crisis in the United States. * Uranium miners such as Paladin Energy could get a boost after the pro-nuclear power Liberal Democratic Party won Japan's election in a landslide. * Publisher Fairfax Media said it has sold its remaining 51 percent stake in New Zealand online auction and classified business Trade Me Ltd for A$616 million ($649 million) to help cut debt. Trade Me shares were on a halt while Fairfax completed the sale at $3.05 a share. * Fortescue Metals Group said it is considering selling a minority stake in its Pilbara Infrastructure arm after receiving strong interest in the iron ore port and rail assets from a number of strategic and financial parties. ----------------------MARKET SNAPSHOT @ 2109 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1413.58 -0.41% -5.870 USD/JPY 84.32 -0.2% -0.170 10-YR US TSY YLD 1.7041 -- 0.000 SPOT GOLD 1695.09 0.04% 0.690 US CRUDE 86.73 0.98% 0.840 DOW JONES 13135.01 -0.27% -35.71 ASIA ADRS 125.98 0.50% 0.63 ------------------------------------------------------------- * Wall St ends lower on sour Apple, 'cliff' uncertainty * Oil rises on China data as January Brent nears expiry * Gold under $1,700 on US fiscal worry, thin trade * Copper steady, China data offsets euro zone gloom For a digest of the day's business stories in Australian newspapers, double click on ($1 = 0.9485 Australian dollars) (Reporting by Sonali Paul; Editing by John Mair) 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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