Reuters: Hot Stocks: Australia shares seen down on U.S., euro zone uncertainty

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Australia shares seen down on U.S., euro zone uncertainty Feb 4th 2013, 21:21 Tweet Share this Email Print Mon Feb 4, 2013 4:21pm EST MELBOURNE, Feb 5 (Reuters) - Australian shares are set to open lower on Tuesday with discouraging U.S. factory orders and political ructions in Spain and Italy likely to spur more profit-taking following a 6 percent rally so far this year. * Stock index futures dropped 0.7 percent to 4,835, a 72.5-point discount to the underlying S&P/ASX 200 index . The benchmark fell 0.3 percent on Monday. * New Zealand's benchmark NZX 50 index slipped 0.3 percent to 4,234.5 in early trade. * U.S. stocks slid on Monday, giving the S&P 500 its worst day of the year, as renewed worries about the euro zone crisis caused the market to pull back from recent gains. * Copper rose on Monday as confidence in the outlook for growth increased after data pointed to strength in the U.S. economy and a modest rebound in Chinese factory activity, but prices slipped from four-month highs as the dollar gained. * The Reserve Bank of Australia is expected to hold the cash rate steady at 3.0 percent at its first meeting of the year on Tuesday. * Bionic ear maker Cochlear is due to release its first-half results. ----------------------MARKET SNAPSHOT @ 2103 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1495.72 -1.15% -17.450 USD/JPY 92.3 -0.45% -0.420 10-YR US TSY YLD 1.9601 -- -0.065 SPOT GOLD 1673.32 0.41% 6.780 US CRUDE 96.13 -1.68% -1.640 DOW JONES 13880.08 -0.93% -129.71 ASIA ADRS 135.67 -0.93% -1.27 ------------------------------------------------------------- * Wall St pulls back on euro zone jitters * Oil prices drop on profit-taking after strong run * Platinum rises on Amplats, car sales reports * Confidence in growth boosts copper, dollar weighs 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 Sonali Paul; 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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