Reuters: Hot Stocks: Australia shares seen inching up on U.S. cliff deal hopes

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Australia shares seen inching up on U.S. cliff deal hopes Jan 1st 2013, 22:03 Tweet Share this Email Print Tue Jan 1, 2013 5:03pm EST MELBOURNE, Jan 2 (Reuters) - Australian shares are expected to open higher on Wednesday after the U.S. Senate approved a last-minute deal to avert steep tax hikes and spending cuts, but the tide could turn if the House of Representatives scuttles the deal. * Markets were closed on Tuesday for the New Year holiday. The benchmark S&P/ASX 200 index slipped 0.5 percent on Monday, but ended 2012 up 14.6 percent, its best annual gain since 2009. * The New Zealand market remains closed for a holiday. * U.S. stocks closed out 2012 with their strongest day in more than a month, putting the S&P 500 up 13.4 percent for the year. * Copper rose on Monday on upbeat manufacturing data from China, ending the year up more than 4 percent. * Washington's last-minute scramble to step back from the "fiscal cliff" ran into trouble as Republicans in the House of Representatives said they might try to change the bill approved by the Senate. The upper house voted to raise taxes on the wealthy in a late-night show of unity. ----------------------MARKET SNAPSHOT @ 2118 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1426.19 1.69% 23.760 USD/JPY 86.58 -0.18% -0.160 10-YR US TSY YLD 1.7565 -- 0.000 SPOT GOLD 1674.54 0.01% 0.200 US CRUDE 91.82 1.12% 1.020 DOW JONES 13104.14 1.28% 166.03 ASIA ADRS 132.46 1.53% 2.00 ------------------------------------------------------------- * Wall St ends 2012 riding high on "cliff" deal optimism * Brent crude rises, hits record annual average for 2012 * Gold up 6 pct in 2012; rallies on US fiscal deal * Copper gains on upbeat China data; U.S. talks weigh For a digest of the day's business stories in Australian newspapers, double click on (Reporting by Sonali Paul; 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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