Reuters: Hot Stocks: Australia shares seen lower on U.S. budget talk deadlock

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Australia shares seen lower on U.S. budget talk deadlock Dec 30th 2012, 22:29 Tweet Share this Email Print Sun Dec 30, 2012 5:29pm EST SYDNEY, Dec 31 (Reuters) - Australian shares are set for a weaker start on Monday ahead of the New Year's holiday, with investors waiting on the outcome of a last-chance round of U.S. budget talks. * Local share price index futures fell 0.5 percent to 4.624, a 47.3-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.5 percent to close at 4,671.3 on Friday, its highest close since June 2, 2011. * New Zealand's benchmark NZX 50 index fell 0.3 percent to 4,068.9 in early trade. * Both the Australian and New Zealand markets will have abbreviated sessions on Monday, New Year's Eve. * U.S. stocks fell for a fifth straight day on Friday, dropping 1 percent and marking the S&P 500's longest losing streak in three months as the government edged closer to the "fiscal cliff" with no solution in sight. * Copper fell slightly on Friday on a stronger dollar and uncertainty over the U.S. budget talks, but signs that top consumer China's economy is recovering limited losses. * Australia is due to release private sector credit for November on Monday. ----------------------MARKET SNAPSHOT @ 2207 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1402.43 -1.11% -15.670 USD/JPY 85.78 -0.27% -0.230 10-YR US TSY YLD 1.7009 -- 0.000 SPOT GOLD 1655.39 0.00% 0.000 US CRUDE 90.8 -0.08% -0.070 DOW JONES 12938.11 -1.21% -158.20 ASIA ADRS 130.46 -0.16% -0.21 ------------------------------------------------------------- * Wall St ends sour week with 5th straight decline * Oil slips as US fuel stocks rise, budget worries linger * Gold down on day, week amid last-ditch US budget talks * Copper dips on dollar, U.S. budget talks For a digest of the day's business stories in Australian newspapers, double click on (Reporting by Maggie Lu Yueyang; 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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