Reuters: Hot Stocks: Australia shares seen rising for 3rd day, metals firm

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Australia shares seen rising for 3rd day, metals firm Dec 10th 2012, 22:14 Tweet Share this Email Print Mon Dec 10, 2012 5:14pm EST MELBOURNE, Dec 11 (Reuters) - Australian shares are set to open higher on Tuesday, with the resource sector gaining momentum from higher base metals, gold and oil prices and investors hoping to see fresh economic stimulus from the U.S. Federal Reserve this week. * Stock index futures rose 0.2 percent to 4,577.0, a 19.1 point premium to the underlying S&P/ASX 200 index . The benchmark rose 0.1 percent on Monday. * U.S. stocks edged higher as technology shares bounced back after recent weakness and McDonald's posted strong monthly sales. * Copper hit its highest price in almost two months as investors took heart from rising factory output growth in top consumer China, although data also showed Chinese exports and imports were below forecasts, tempering the metal's gains. * The U.S. Federal Reserve holds a two-day policy meeting this week, and analysts expect it to announce monthly bond purchases of $45 billion, on top of the $40 billion in mortgage-backed security purchases it announced in September. * Lynas Corp shares will be watched after the company was told it must export waste material created by operations at its rare earths plant in Malaysia or risk having its operating license revoked. * Engineering firm Downer EDI has reached a negotiated settlement on a Singapore tunnel dispute and agreed to pay S$50 million. * New Zealand's benchmark NZX 50 index fell 4.3 points to 4,0926.5 in early trade. ----------------------MARKET SNAPSHOT @ 2152 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1418.55 0.03% 0.480 USD/JPY 82.32 -0.01% -0.010 10-YR US TSY YLD 1.6164 -- -0.007 SPOT GOLD 1712.2 0.04% 0.610 US CRUDE 85.67 -0.30% -0.260 DOW JONES 13169.88 0.11% 14.75 ASIA ADRS 124.32 0.03% 0.04 ------------------------------------------------------------- * Wall St gets small lift from tech and McDonald's * Oil gains after Chinese oil imports grow * Gold rises on U.S. budget talks, Fed stimulus hopes * Copper near 2-month high on China data 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.

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