Reuters: Hot Stocks: Australia shares seen firmer as U.S. data cheers

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Australia shares seen firmer as U.S. data cheers Feb 3rd 2013, 22:30 Tweet Share this Email Print Sun Feb 3, 2013 5:30pm EST MELBOURNE, Feb 4 (Reuters) - Australian shares are likely to firm on Monday, following the lead of Wall Street which hit a five-year high in the previous session after strong economic data buoyed sentiment. * Stock index futures rose 24 points to 4,903.0, a 18.1-point discount to the close of the underlying S&P/ASX 200 index. The benchmark index rose 0.9 percent on Friday, hitting its highest since April 2011. * New Zealand's benchmark NZX 50 index rose 0.2 percent to 4,255.6 in early trade. * U.S. stocks rose to five-year highs on Friday, with the Dow closing above 14,000 for the first time since October 2007, after jobs and manufacturing data showed the economy's recovery remains on track. * Copper also rose on Friday as confidence in the outlook for global growth gathered pace. * Iron Ore Holdings may come under pressure after the firm reached agreement with Fortescue Metals Group on the early termination of Fortescue's exclusive option on Iron Valley, to develop an integrated mine. * Investors will keep an eye on two major coal producers, Rio Tinto and Xstrata, forced to declare force majeure on exports after a rail haul line was shut due to heavy rains and flooding in eastern Queensland state. ----------------------MARKET SNAPSHOT @ 2215 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1513.17 1.01% 15.060 USD/JPY 92.8 0.09% 0.080 10-YR US TSY YLD 2.0248 -- 0.000 SPOT GOLD 1666.99 0.03% 0.450 US CRUDE 97.77 0.29% 0.280 DOW JONES 14009.79 1.08% 149.21 ASIA ADRS 136.94 0.87% 1.18 ------------------------------------------------------------- * Wall St surges to 5-year highs * Oil-Brent crude jumps, premium over U.S. crude widens * Gold lifted by US payrolls data, posts weekly gain * Copper up on growth optimism, U.S. economy perks up For a digest of the day's business stories in Australian newspapers, double click on (Australia/New Zealand bureaux; +61 2 9373 1800/+64 4 471 4234) (Reporting by Victoria Thieberger; Editing by Lincoln Feast) 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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