Reuters: Hot Stocks: Australia shares seen stronger after Dow hits record high

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Australia shares seen stronger after Dow hits record high Mar 26th 2013, 22:29 SYDNEY, March 27 | Tue Mar 26, 2013 6:29pm EDT SYDNEY, March 27 (Reuters) - Australian shares are seen rising on Wednesday after the Dow Jones Industrial Average posted a record close as strong data boosted investor sentiment, with mining and energy stocks expected to find some support on steadier resource prices. * Local share price index futures rose 0.2 percent to 4,965, a 14.8-point premium to the underlying S&P/ASX 200 index close. On Tuesday, the benchmark fell 0.8 percent to its lowest close since February 7. * New Zealand's benchmark NZX 50 index rose 0.5 percent or 22.5 points to 4,368.5 in early trade. * U.S. stocks rallied on Tuesday, with the Dow climbing more than 100 points to a record close and the S&P 500 coming within striking distance of its all-time closing high, as strong data on home prices and manufacturing fed optimism about the economy. * Brent crude rallied to settle up more than $1 above $109 a barrel, after U.S. crude had surged to a five-week high above $96 a barrel, lifted by stronger manufacturing and housing data in the United States. * Copper steadied as demand picked up in China, the biggest metals consumer, but concerns about the fallout from the Cyprus bailout deal weighed. * Gold fell for the third session in a row on Tuesday as the return of relative calm in Europe as the bailout deal for Cyprus banks eased market fears and better U.S. factory and housing data pointed to an improving economy. * QBE Insurance holds its annual general meeting on Wednesday. * The Reserve Bank of Australia will release its Financial Stability Review report, its semi-annual health review on the banking sector later on Wednesday. ----------------------MARKET SNAPSHOT @ 2208 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1563.77 0.78% 12.080 USD/JPY 94.54 0.14% 0.130 10-YR US TSY YLD 1.9111 -- 0.000 SPOT GOLD 1598.88 0.02% 0.290 US CRUDE 96.16 -0.19% -0.180 DOW JONES 14559.65 0.77% 111.90 ASIA ADRS 135.89 0.22% 0.30 ------------------------------------------------------------- * Wall St data lifts Dow to a record, S&P near record close * Oil up on strong US data, Brent premium to US crude shrinks * Gold falls for 3rd day on euro calm, bright US data * Copper steady as China demand improves, Cyprus weighs For a digest of the day's business stories in Australian newspapers, double click on (Reporting by Thuy Ong; Editing by John Mair) Link this Share this Digg this Email Reprints

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