Reuters: Hot Stocks: Australia shares seen edging up on Dow record, metals may cap

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Australia shares seen edging up on Dow record, metals may cap Mar 6th 2013, 22:06 Tweet Share this Email Print Wed Mar 6, 2013 5:06pm EST SYDNEY, March 7 (Reuters) - Australian shares are seen edging higher at open on Thursday, after the Dow reached another record on signs of improvement in the U.S. jobs market, but weaker metal prices may cap the gains in mining stocks. * Local share price index futures were up 0.1 percent at 5,128, a 11.2-point premium to the underlying S&P/ASX 200 index close. The benchmark climbed 0.8 percent on Wednesday to a 4-1/2 year closing high. * New Zealand's benchmark NZX 50 index rose 0.3 percent to 4,311.4 in early trade. * The Dow closed modestly higher at another record on Wednesday as investors bet that favorable market conditions would continue, helped by a private payroll survey that boded well for the monthly jobs report due at the week's end. * Copper fell as the dollar rose and as investors fretted about demand in the world's top metals consumer China. * Australia's economy grew at a moderate pace last quarter as a long-awaited surge in resource exports helped offset softness elsewhere, while recent evidence suggests the growth pulse might have quickened since then. * Australia's trade balance for January is due at 0030 GMT. ----------------------MARKET SNAPSHOT @ 2131 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1541.46 0.11% 1.670 USD/JPY 94.08 0.86% 0.800 10-YR US TSY YLD 1.9427 -- 0.045 SPOT GOLD 1583.96 0.57% 8.900 US CRUDE 90.43 -0.43% -0.390 DOW JONES 14296.24 0.30% 42.47 ASIA ADRS 138.06 0.37% 0.50 ------------------------------------------------------------- * Dow closes at another record high * Oil falls to $111/bbl on U.S. inventory build * Gold up, faces headwind from wall Street rally * Copper dips on strong dollar, weak demand in China 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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