Reuters: Hot Stocks: Australia shares seen subdued, euro zone worries linger

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Australia shares seen subdued, euro zone worries linger Mar 27th 2013, 22:42 Tweet Share this Email Print Wed Mar 27, 2013 6:42pm EDT SYDNEY, March 28 (Reuters) - Australian shares are likely to open lower on Thursday, the last day of trade before the Easter holiday, following a subdued session on Wall Street amid ongoing concerns about the Cyprus financial crisis. * Local share price index futures dipped 0.3 percent to 4,991, a 4.0-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.9 percent on Wednesday. * New Zealand's benchmark NZX 50 index fell 0.2 percent to 4,402.2 in early trade, backing off from a record high hit in the previous session. * U.S. stocks rebounded from early declines to close little changed on Wednesday, but investors were still worried about the chance of a run on Cypriot banks and its possible implications for other euro-zone lenders. * Iron ore hit its highest in almost two weeks on Wednesday as some Chinese mills rebuilt stockpiles, although upward momentum could be short-lived as steel producers curb output amid slow demand. * Copper fell on Wednesday due to a stronger dollar and concerns over the euro zone, while data was mixed out of the United States, the world's largest economy. * Australian construction firm Leighton Holdings Ltd said it has reached agreement with Ontario Teachers' Pension Plan for the sale of about 70 percent of its telecommunications assets. * Bluescope Steel Ltd, Australia's largest steel maker, said it has started its $1.36 billion metal joint venture with Nippon Steel & Sumitomo Metal Corp after completing the sale of 50 percent of business. * Linc Energy Ltd said it has raised A$200 million in a convertible bonds issue. ----------------------MARKET SNAPSHOT @ 2159 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1562.85 -0.06% -0.920 USD/JPY 94.37 -0.06% -0.060 10-YR US TSY YLD 1.8454 -- -0.066 SPOT GOLD 1604.85 0.00% 0.060 US CRUDE 96.69 0.11% 0.110 DOW JONES 14526.16 -0.23% -33.49 ASIA ADRS 136.30 0.30% 0.41 ------------------------------------------------------------- * Wall St ends flat on late buying, Cyprus woes linger * Oil higher but rising crude inventories limit gains * Gold edges up on euro zone fears, Fed stimulus hopes * Copper falls on strong dollar, euro zone worries 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 Maggie Lu Yueyang) 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.

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