Reuters: Hot Stocks: Australia shares seen rising on hopes for U.S. budget talks

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Australia shares seen rising on hopes for U.S. budget talks Dec 17th 2012, 22:24 Tweet Share this Email Print Mon Dec 17, 2012 5:24pm EST MELBOURNE, Dec 18 (Reuters) - Australian shares are set to open higher on Tuesday, lifted by a rise in iron ore prices to a five-month high and by gains on Wall Street on revived optimism that a deal to avert the U.S. "fiscal cliff" will soon be reached. * Stock index futures rose 0.5 percent to 4,597.0, a 23.6-point premium to the underlying S&P/ASX 200 index . The benchmark ended down slightly on Monday, having hit a 17-month high last week. * New Zealand's benchmark NZX 50 index was little changed at 3,967 in early trade. * On Wall Street, the S&P 500 ended at its highest in almost two months on hopes negotiations over the fiscal cliff were making progress and that a deal could be reached in days. * Copper edged lower as the market waited for an agreement on the U.S. fiscal impasse. * Spot iron ore prices touched a five-month high of $130 a tonne as traders in China, the world's top buyer, booked more cargoes in anticipation that steel mills would need to start restocking the raw ingredient as soon as the next quarter. * Incitec Pivot, which has been expanding its explosives business to offset falling prices for its fertiliser sales, holds its annual shareholders' meeting. * Cape Lambert Resources announced plans for an on-market buyback of 10 percent of its shares. ----------------------MARKET SNAPSHOT @ 2210 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1430.36 1.19% 16.780 USD/JPY 83.88 0% 0.000 10-YR US TSY YLD 1.7734 -- 0.069 SPOT GOLD 1697.45 -0.01% -0.200 US CRUDE 87.45 0.83% 0.720 DOW JONES 13235.39 0.76% 100.38 ASIA ADRS 126.67 0.55% 0.69 ------------------------------------------------------------- * Optimism about 'cliff' boosts Wall St * Oil-Brent dips, US crude rises on fiscal talks * Gold capped by US budget talks progress * Copper down slightly on U.S fiscal cliff uncertainty For a digest of the day's business stories in Australian newspapers, double click on (Reporting by Victoria Thieberger; 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.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions