Reuters: Hot Stocks: Australia shares seen up on U.S. fiscal progress hopes

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Australia shares seen up on U.S. fiscal progress hopes Dec 20th 2012, 22:22 Tweet Share this Email Print Thu Dec 20, 2012 5:22pm EST SYDNEY, Dec 21 (Reuters) - Australian shares are likely to extend a surge that has taken them to 17-month highs into a fourth day on Friday after U.S. stocks rose on signs of modest progress in U.S budget negotiations. * Local share price index futures rose 0.3 percent to 4,625, a 9.1 point discount to the underlying S&P/ASX 200 index close. The benchmark rose 16.33 to 4,634.11 on Thursday, its highest close in 17 months. * New Zealand's benchmark NZX 50 index rose 11.18 to 4,087.06 in early trade. * U.S stocks rebounded from early losses after Republican House Speaker John Boehner said he would keep working on a solution to the "fiscal cliff" despite slamming President Barack Obama's approach to budget talks. * Energy stocks may be pulled down by overnight falls in gold and copper prices. ----------------------MARKET SNAPSHOT @ 2141 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1443.69 0.55% 7.880 USD/JPY 84.35 -0.06% -0.050 10-YR US TSY YLD 1.7997 -- -0.007 SPOT GOLD 1646.99 -1.17% -19.570 US CRUDE 89.95 -0.03% -0.030 DOW JONES 13311.72 0.45% 59.75 ASIA ADRS 131.39 1.06% 1.38 ------------------------------------------------------------- * Wall St rebounds on some 'cliff' progress * Crude futures end mixed as budget deal stalls * Gold below $1,650/oz, down 1.3 pct on fund selling * Copper near one-month low as U.S. fiscal talks sour For a digest of the day's business stories in Australian newspapers, double click on (Reporting by Pauline Askin; 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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