Reuters: Hot Stocks: Australia shares seen lower on Cyprus uncertainty, metals

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Australia shares seen lower on Cyprus uncertainty, metals Mar 17th 2013, 22:26 Tweet Share this Email Print Sun Mar 17, 2013 6:26pm EDT SYDNEY, March 18 (Reuters) - Australian shares are set to start lower on Monday on uncertainty about the impact of a proposed bailout for Cyprus, an end to Wall Street's run gains and weaker metal prices that are expected to cap mining stocks. * Local share price index futures fell 0.4 percent to 5,099, a 21.2-point discount to the underlying S&P/ASX 200 index close. The benchmark had rallied 1.8 percent on Friday. * New Zealand's benchmark NZX 50 index fell 0.7 percent to 4,357.7 in early trade. * U.S. stocks slipped on Friday, ending the Dow Jones industrial average's longest winning streak since 1996 as investors paused just below the S&P 500's record high. * Copper fell with appetite for risk waning after mixed economic data from the United States, while rising stocks of the metal in China reinforced uncertainty about future demand. * The euro skidded lower in Asia early Monday as news that Cyprus would have to tax depositors as part of a bailout plan a was taken as setting a dangerous precedent that at worst could ultimately risk bank runs elsewhere in the region. * The government of Australian state Queensland has sold a 9 percent stake in the country's largest rail freight company Aurizon Holdings Ltd for A$806 million ($830 million). ----------------------MARKET SNAPSHOT @ 2157 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1560.7 -0.16% -2.530 USD/JPY 94.5 -0.8% -0.760 10-YR US TSY YLD 1.9912 -- 0.000 SPOT GOLD 1591.84 0.00% 0.000 US CRUDE 93.41 -0.04% -0.040 DOW JONES 14514.11 -0.17% -25.03 ASIA ADRS 137.28 -0.28% -0.39 ------------------------------------------------------------- * Dow retreats from 10-day rally; JPMorgan weighs * Oil gains on weaker U.S. dollar * Gold rises to 2nd wkly gain, action light before Fed * Copper falls as mixed U.S. data dampens demand prospects 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 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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