Reuters: Hot Stocks: Australia shares seen dipping after 10 days of gains

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Australia shares seen dipping after 10 days of gains Jan 30th 2013, 22:40 Tweet Share this Email Print Wed Jan 30, 2013 5:40pm EST MELBOURNE, Jan 31 (Reuters) - Australian shares are poised to open a touch lower on caution over stalled U.S. growth, with investors taking a breather following the local market's longest winning streak in more than nine years. * Local share price index futures slipped 0.1 percent to 4,855.0, a 41.7 point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.2 percent on Wednesday to a 21-month closing high. * New Zealand's benchmark NZX 50 index slipped 1.3 points to 4,246.3 in early trade. * U.S. stocks fell on Wednesday after the Federal Reserve said economic growth had stalled but indicated the pullback was likely temporary. Data showed U.S. gross domestic product had unexpectedly contracted in the fourth quarter. * Copper climbed to the highest in nearly a month on largely upbeat economic data, but the upside was capped by caution about weak underlying metals demand and the setback in U.S. growth. Gold also rose. * Top supermarkets chain Woolworths reports December quarter sales on Thursday. On Wednesday, arch rival Wesfarmers <WES.AX reported 3.9 percent quarterly sales growth at its Coles supermarkets, excluding new stores. * Origin Energy is due to report quarterly production. ----------------------MARKET SNAPSHOT @ 2221 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1501.96 -0.39% -5.880 USD/JPY 91.04 -0.03% -0.030 10-YR US TSY YLD 1.992 -- -0.007 SPOT GOLD 1676.17 -0.03% -0.530 US CRUDE 97.96 0.40% 0.390 DOW JONES 13910.42 -0.32% -44.00 ASIA ADRS 135.62 0.17% 0.23 ------------------------------------------------------------- * Wall St ends lower after Fed statement * Oil up as economic optimism overshadows weak US data * Gold rises on surprise drop in US growth, Fed * Copper surges to near-month peak, capped by US data 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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