Reuters: Hot Stocks: Australia shares seen edging up, iron ore prices to weigh

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Australia shares seen edging up, iron ore prices to weigh Apr 1st 2013, 22:41 Tweet Share this Email Print Mon Apr 1, 2013 6:41pm EDT SYDNEY, April 2 (Reuters) - Australian shares may edge up at open on Tuesday as investors return from the Easter break looking for bargains after last week's dip, but the market will be pressured by worries about metals demand from China as iron ore prices fell 2 percent. * Local share price index futures rose 0.4 percent to 4,988, a 21.5-point premium to the underlying S&P/ASX 200 index close. The benchmark dropped 0.6 percent in the last trading day ahead of the Easter holidays. * New Zealand's benchmark NZX 50 index fell 0.4 percent to 4,403.2 in early trade. * The Reserve Bank of Australia holds a policy review on Tuesday. All 22 economists polled by Reuters expect the central bank to keep interest rates unchanged at a record low 3.0 percent, waiting for further evidence that past cuts are indeed working to stimulate the economy. * U.S. stocks fell on Monday in one of the lightest volume days of the year, pulling back after the S&P 500's record closing high last week and weaker-than-expected U.S. manufacturing data. * Shanghai steel futures fell more than 2 percent to their lowest in nearly four months on Monday, reflecting investor concern over a slow pickup in demand in top consumer China which is boosting efforts to cool its real estate sector. * Copper prices sank on Monday to their lowest levels since last summer on concerns about waning demand after weaker-than-expected manufacturing data from China, the world's No. 1 copper consumer, and the United States, the world's biggest economy. * Top global miner BHP Billiton is freezing all its projects in Gabon, mining ministry sources said on Friday, dashing government hopes for sizeable investments in manganese and iron ore production. ----------------------MARKET SNAPSHOT @ 2205 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1562.17 -0.45% -7.020 USD/JPY 93.23 0.02% 0.020 10-YR US TSY YLD 1.8348 -- 0.000 SPOT GOLD 1598.89 0.03% 0.490 US CRUDE 97 -0.07% -0.070 DOW JONES 14572.85 -0.04% -5.69 ASIA ADRS 133.01 -1.98% -2.69 ------------------------------------------------------------- * Wall St down after factory data, last week's records * Brent higher in choppy trading, U.S. crude slips * Gold up in holiday trade after weak US factory data * Shanghai, NY Copper fall on disappointing data 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 Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions