Reuters: Hot Stocks: Australia shares drift as U.S. fiscal talks resume

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Australia shares drift as U.S. fiscal talks resume Dec 26th 2012, 23:24 Tweet Share this Email Print Wed Dec 26, 2012 6:24pm EST MELBOURNE, Dec 27 (Reuters) - Australian shares eased marginally on Thursday, following a two-day break from trade, as concerns about a potential U.S. fiscal crisis kept investors on the edge. President Barack Obama is due back in Washington early Thursday for a final effort to negotiate a deal with Congress to avert or at least postpone the "fiscal cliff". The benchmark S&P/ASX 200 index was down 2 points at 4,632.7 at 2314 GMT. It rose 0.3 percent in a short session on Monday. New Zealand's benchmark NZX 50 index rose 0.2 percent to 4,063.7. U.S. stocks fell for a third straight day after a report showed consumers spent less in the holiday shopping season than last year. Fortescue Metals Group rose 2.3 percent to A$4.45 after announcing it will go ahead developing its Kings deposit to complete an iron ore expansion to 155 million tonnes a year, which was put on hold in September amid a cash crunch. (Reporting by Miranda Maxwell; Editing by ERic Meijer) 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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