Reuters: Hot Stocks: Australia shares seen opening up on Fed comments

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Australia shares seen opening up on Fed comments Feb 24th 2013, 22:16 Tweet Share this Email Print Related Topics Cyclical Consumer Goods » Sun Feb 24, 2013 5:16pm EST SYDNEY, Feb 25 (Reuters) - Australian shares are set to inch up on Monday after reassuring comments from U.S. Federal Reserve officials that the central bank will maintain policy stimulus for the world's largest economy, although weaker metal prices will cap the gains. * Local share price index futures rose 0.4 percent to 5,014, a 4.1-point discount to the underlying S&P/ASX 200 index. The benchmark rose 0.8 percent on Friday, but still lost 0.3 percent over the week. * New Zealand's benchmark NZX 50 index rose 0.4 percent to 4,232.7 in early trade. * U.S. stocks rose on Friday as Dow component Hewlett-Packard surged on strong results and on the reduced concerns that the central bank would curtail its stimulus measures. * Copper slipped to a two-month low on Friday, posting its biggest weekly loss in 14 months on concerns about the global economy and the demand for industrial metals. * Australia's troubled third-ranked television station, Ten Network Holdings, sacked its chief executive late on Friday, just a year after it poached him from rival operator Seven West Media Ltd. ----------------------MARKET SNAPSHOT @ 2151 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1515.6 0.88% 13.180 USD/JPY 94.59 1.3% 1.210 10-YR US TSY YLD 1.9618 -- 0.000 SPOT GOLD 1580.9 0.00% 0.000 US CRUDE 93.13 0.31% 0.290 DOW JONES 14000.57 0.86% 119.95 ASIA ADRS 136.49 1.50% 2.02 ------------------------------------------------------------- * Wall St rebounds on HP results, Fed officials' views * Oil slightly higher for day, down for the week * Gold posts second weekly loss on economic hopes * Copper hits 2-mth low on global economy 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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