Reuters: Hot Stocks: Australia shares set to open higher

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Australia shares set to open higher Jan 6th 2013, 22:41 Tweet Share this Email Print Sun Jan 6, 2013 5:41pm EST SYDNEY, Jan 7 (Reuters) - Australian shares are likely to open a touch higher on Monday, underpinned by major miners on gains in iron ore prices amid renewed demand from China. Encouraging jobs data in the United States is also expected to provide a positive lead. * Local stock price index futures rose 0.4 percent, or 18 points to 4,723, in line with the underlying S&P/ASX 200 index. The benchmark closed at 4,723.78 on Friday. * New Zealand's benchmark NZX 50 index inched up 0.3 percent to 4,085.8 in early trade. * In the U.S., the benchmark Standard & Poor's 500 index ended at a five-year high on Friday, lifted by reports showing employers kept up a steady pace of hiring workers and the vast services sector expanded at a brisk rate. * Copper fell on Friday as the dollar rose after the U.S. Federal Reserve flagged concerns about the risks of its stimulative monetary policy, but falls in metals were limited by the jobs data. * Iron ore climbed to its highest in more than a year at around $150 a tonne on Friday, with Chinese mills continuing to replenish inventories as recent economic data fuelled hopes of better demand in the new year. .IO62-CNI=SI ----------------------MARKET SNAPSHOT @ 2222 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1466.47 0.49% 7.100 USD/JPY 88.28 0.14% 0.120 10-YR US TSY YLD 1.9026 -- 0.000 SPOT GOLD 1655.79 0.00% 0.000 US CRUDE 93.09 0.18% 0.170 DOW JONES 13435.21 0.33% 43.85 ASIA ADRS 135.28 0.15% 0.20 ------------------------------------------------------------- * S&P 500 finishes at 5-year high on economic data * Brent crude falls, demand concerns offset US jobs data * Gold drops but pares losses after U.S. payrolls * Copper down on Fed minutes, U.S. data limits falls For a digest of the day's business stories in Australian newspapers, double click on (Reporting By Jane Wardell; Editing by John Mair) Related Quotes and News Company Price Related News 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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