Reuters: Hot Stocks: Australia shares seen lower, miners may find gains tough

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Australia shares seen lower, miners may find gains tough Jan 28th 2013, 22:46 Tweet Share this Email Print Mon Jan 28, 2013 5:46pm EST SYDNEY, Jan 29 - Australian shares are likely to edge lower on Tuesday morning after Wall Street eased, and miners may struggle to extend recent gains as some Chinese iron ore buyers sit out until after the Lunar New Year holidays in February. * Local share price index futures inched down 0.1 percent to 4,830, a 5.2-point discount to the underlying S&P/ASX 200 index close. The benchmark finished up 25 points at 4,835.2 on Friday. The market was closed on Monday for the Australia Day holiday. * New Zealand's benchmark NZX 50 index dipped 0.1 percent to 4,200.8 in early trade. * The S&P 500 eased slightly on Monday after an eight-day run of gains, while the Nasdaq edged higher as Apple shares rebounded. * Copper edged higher on Monday after better-than-expected U.S. durable goods data lifted confidence about growth and demand in the world's largest economy, but uneasiness about the growth of supply kept prices in check. * More restocking by Chinese steelmakers and limited spot cargoes may nudge iron ore prices higher this week, though gains will be capped with buyers not keen on chasing pricey cargoes and sellers willing to wait until after the February holiday. * Giant Canadian pension fund Ontario Teachers' Pension Plan has emerged as a final-round bidder for the fibre-optics business of Leighton Holdings Ltd, according to sources with knowledge of the matter. ----------------------MARKET SNAPSHOT @ 2200 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1500.18 -0.18% -2.780 USD/JPY 90.85 0.01% 0.010 10-YR US TSY YLD 1.9631 -- 0.014 SPOT GOLD 1655.14 0.05% 0.800 US CRUDE 96.54 0.69% 0.660 DOW JONES 13881.93 -0.10% -14.05 ASIA ADRS 133.57 -0.55% -0.74 ------------------------------------------------------------- * S&P 500 eases, ends longest winning run in 8 years * Oil rises as Hess refinery closure boosts gasoline * Platinum down 1.2 pct as Amplats delays job cuts * Copper up after U.S. data, supply outlook weighs 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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