Reuters: Hot Stocks: Australia shares seen getting lift from stronger metals

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Australia shares seen getting lift from stronger metals Mar 12th 2013, 22:21 SYDNEY, March 13 | Tue Mar 12, 2013 6:21pm EDT SYDNEY, March 13 (Reuters) - Australian shares are likely to open slightly up on Wednesday, with a mixed lead from Wall Street offset by a rebound in metal prices which may help to ease investor concerns about the demand outlook and lift mining stocks. * Local share price index futures edged up 0.2 percent to 5,123, a 5.1-point premium to the underlying S&P/ASX 200 index close. The benchmark fell 0.6 percent on Tuesday. * New Zealand's benchmark NZX 50 index fell 0.3 percent to 4,367.6 in early trade. * The S&P 500 ended lower on Tuesday, breaking a seven-session string of gains as investors pulled back from technology and financials, but the Dow eked out the smallest of gains to finish at another all-time closing high. * Copper rose to a near-two-week high on hopes a recent slide to a multi-month low could encourage physical buying from top consumer China. * National Australia Bank, the country's largest bank by assets, is restructuring its management team, technology and operating model in an effort to save it up to A$800 million ($825 million) a year. ----------------------MARKET SNAPSHOT @ 2202 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1552.48 -0.24% -3.740 USD/JPY 95.98 -0.08% -0.080 10-YR US TSY YLD 2.0191 -- 0.000 SPOT GOLD 1592.46 0.02% 0.370 US CRUDE 92.65 0.12% 0.110 DOW JONES 14450.06 0.02% 2.77 ASIA ADRS 137.48 -1.13% -1.57 ------------------------------------------------------------- * S&P 500 dips after 7-day rally; Dow edges up to record * Brent slips, U.S. crude pushes higher in choppy trade * Gold rises on euro zone jitters, ETF flow eyed * Copper rises near 2-week high on China hopes For a digest of the day's business stories in Australian newspapers, double click on (Reporting by Maggie Lu Yueyang; Editing by John Mair) Link this Share this Digg this Email Reprints

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