Reuters: Hot Stocks: Australia shares may inch up, await Cyprus deal news

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Australia shares may inch up, await Cyprus deal news Mar 24th 2013, 22:21 Tweet Share this Email Print Sun Mar 24, 2013 6:21pm EDT SYDNEY, March 25 (Reuters) - Australian shares may open firmer on Monday, supported by investors looking for value buys after last week's fall and a recovery in iron ore prices, but sentiment will be hesitant while markets wait to see if Cyprus can avert a banking crisis. * Local share price index futures rose 0.5 percent to 4,993, a 25.7-point premium to the underlying S&P/ASX 200 index close. The benchmark inched up 0.2 percent on Friday, but fell 3 percent for the week. * New Zealand's benchmark NZX 50 index were nearly flat at 4,342.4 in early trade. * With Cyprus facing a Monday deadline to avert a collapse of its banking system, President Nicos Anastasiades is meeting with international lenders to try to craft a deal on a 10 billion euro ($13 billion) bailout after a first attempt collapsed last week. * U.S. stocks rose on Friday on optimism that a deal to bail out Cyprus would be reached, but ended lower for the week for just the second time this year. * Spot iron ore prices were steady on Friday, recovering from three-month lows hit last week, amid signals that buyers from top importer China are keen on rebuilding stockpiles. Copper rose, helped by bargain hunting and consumer buying in China. * Australia's Leighton Holdings Ltd has appointed board member Bob Humphris as its new chairman to replace Stephen Johns, who quit in a row with majority shareholder Hochtief . * Australia mall operator Westfield Group said on Monday it had reached an agreement with O'Connor Capital Partners on a joint venture investment in six Westfield regional malls in the U.S. state of Florida. ----------------------MARKET SNAPSHOT @ 2154 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1556.89 0.72% 11.090 USD/JPY 94.52 0.02% 0.020 10-YR US TSY YLD 1.9267 -- 0.000 SPOT GOLD 1607.79 0.00% 0.000 US CRUDE 93.71 0.00% 0.000 DOW JONES 14512.03 0.63% 90.54 ASIA ADRS 136.17 0.54% 0.73 ------------------------------------------------------------- * Wall St rises on Cyprus deal hopes, but dips for week * Oil gains, Brent premium to US crude narrowest since July * Gold down as Cyprus fears ease, notches weekly gain * Copper up on consumer buying, Cyprus bank deal For a digest of the day's business stories in Australian newspapers, double click on (Reporting by Maggie Lu Yueyang; Editing by John Mair) Tweet this Link this Share this Digg this Email Reprints Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions