Reuters: Hot Stocks: Australia shares seen opening higher on Bernanke comments

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Australia shares seen opening higher on Bernanke comments Feb 26th 2013, 22:50 Tweet Share this Email Print Tue Feb 26, 2013 5:50pm EST SYDNEY, Feb 27 (Reuters) - Australian shares are set to start higher on Wednesday, after Wall Street rose as Federal Reserve Chairman Ben Bernanke reassured the market the U.S. central bank would keep buying bonds and eased concerns of an early end to policy stimulus. * Local share price index futures 0.6 percent to 5007, a 3.4-point premium to the underlying S&P/ASX 200 index close. The benchmark fell 1 percent on Tuesday. * New Zealand's benchmark NZX 50 index rose 0.7 percent to 4,267.7 in early trade. * U.S. stocks rebounded from their worst decline since November after Federal Reserve Chairman Ben Bernanke defended the Fed's bond-buying stimulus and sales of new homes hit a 4-1/2-year high. * Copper edged up as U.S. housing and consumer confidence data offset worries about a deadlocked Italian vote, and as investors were relieved to hear the Federal Reserve defend its ultra-loose monetary policy. * A powerful cyclone headed for Australia's Port Hedland, which handles a fifth of the world's seaborne-traded iron ore, stalled off the coast but was set to make landfall later on Wednesday with destructive winds and flooding. * Spot iron ore prices drifted to a one-month low on Tuesday as worries about China demand outweighed concerns about potential supply disruptions from Australia. * Australian mining contractor Macmahon Holdings said shareholders had approved the sale of its construction business to Leighton Holdings Ltd. * Australian shopping mall owner Westfield Group reported 2012 results in line with expectations, and upgraded its outlook for 2013. ----------------------MARKET SNAPSHOT @ 2231 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1496.94 0.61% 9.090 USD/JPY 91.98 0.01% 0.010 10-YR US TSY YLD 1.886 -- 0.021 SPOT GOLD 1613.7 0.04% 0.590 US CRUDE 92.63 -0.52% -0.480 DOW JONES 13900.13 0.84% 115.96 ASIA ADRS 135.60 1.00% 1.34 ------------------------------------------------------------- * Wall St rebounds on Bernanke comments, data * Brent crude oil under $113 on Italian vote fears * Gold gains most in 3 mths as Bernanke defends policy * Copper recovers from Italy vote on Bernanke, data 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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