Reuters: Hot Stocks: Australia shares may edge down, focus on earnings

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Australia shares may edge down, focus on earnings Feb 18th 2013, 22:46 Tweet Share this Email Print Mon Feb 18, 2013 5:46pm EST SYDNEY, Feb 19 (Reuters) - Australian shares are seen opening with a softer tone on Tuesday on a fall in metals prices, but sentiment remains supportive after a three-month rally that has taken the market to 4-1/2 year highs. * Share price index futures slipped 0.1 percent to 5038.0, a 25.4-point discount to the underlying S&P/ASX 200 index. The benchmark rose 0.6 percent on Monday to its highest close since September 2008. * New Zealand's benchmark NZX 50 index rose O.2 percent to 4,224.4 in early trade. * U.S. financial markets were closed on Monday for a public holiday. * Copper prices dipped to a near three-week low on Monday as signs of weak global growth dampened the demand outlook for industrial metals, with the focus on buying interest from top consumer China after the week-long Lunar New Year holidays. * Ports and rail operator Asciano Ltd reported a first-half profit after tax of $199.9 million and expected full-year capital expenditure would be in the $700-$800 range projected in its FY 2012 final result. * Telecom New Zealand said it, Vodafone and Australia's Telstra will build a $60 million trans-Tasman submarine cable. * The chief executive, chairman and independent directors of Australia's APN News & Media resigned on Monday after major shareholder Independent News & Media said it had lost confidence in management and scuppered a planned capital raising. APN shares were on a trading halt on Monday after closing at A$0.30. The stock has crashed from a high of A$6.16 in 2007. ----------------------MARKET SNAPSHOT @ 2212 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1519.79 -0.1% -1.590 USD/JPY 93.93 -0.02% -0.020 10-YR US TSY YLD 2.0052 -- 0.000 SPOT GOLD 1609.55 0.00% 0.000 US CRUDE 95.53 -0.34% -0.330 DOW JONES 13981.76 0.06% 8.37 ASIA ADRS 136.35 -0.34% -0.46 ------------------------------------------------------------- * Wall St closed on Monday for public holiday * Brent steadies below $118, global growth hopes support * Gold edges lower on lower euro, absent U.S. players * Copper falls to near 3-week low on growth concerns For a digest of the day's business stories in Australian newspapers, double click on (Reporting By Maggie Lu Yueyang; 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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