Reuters: Hot Stocks: Australia shares seen rising on strong Wall St; jobs data in focus

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Australia shares seen rising on strong Wall St; jobs data in focus Apr 10th 2013, 23:11 SYDNEY, April 11 | Wed Apr 10, 2013 7:11pm EDT SYDNEY, April 11 (Reuters) - Australian shares are seen rising on Thursday, buoyed by historical highs marked by both the Dow Jones Industrial Average and the S&P 500, while miners are set to benefit from soaring iron ore prices. * Local share price index futures rose 38 points, a 34-point premium to the underlying S&P/ASX 200 index close. The benchmark fell 0.2 percent on Wednesday. * New Zealand's benchmark NZX 50 index rose 0.3 percent, or 11.3 points to 4,431.3. * U.S. stocks climbed 1 percent on Wednesday with both the Dow and S&P 500 ending at historic highs as cyclical shares led the way higher for a second straight day. * Copper dipped on Wednesday, giving up some gains from the previous session when it hit two-week highs, as some traders locked in profits and other investors remain concerned about sluggish demand amid weak Chinese copper imports. * Gold fell 1.5 percent on Wednesday, its biggest one-day drop in 1-1/2 months, hit by signs that the U.S. Federal Reserve is inching closer to ending its monetary stimulus program and by Cyprus's plan to sell its gold reserves to raise cash. * Spot iron ore prices rose to their highest in almost a month as some Chinese mills replenished stockpiles, although a shaky outlook for steel demand has kept buying interest in check. * Australia's employment data for March is due out later in the day. The data will be of even more interest this time given February's astonishingly strong 70,000+ increase in employment. The Reserve Bank of Australia expects subdued employment growth and the unemployment rate to drift gradually higher. * Top supermarket chain Woolworths Ltd will release its Q3 sales. ----------------------MARKET SNAPSHOT @ 2251 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1587.73 1.22% 19.120 USD/JPY 99.78 0.01% 0.010 10-YR US TSY YLD 1.8051 -- 0.000 SPOT GOLD 1558.61 0.03% 0.470 US CRUDE 94.47 -0.18% -0.170 DOW JONES 14802.24 0.88% 128.78 ASIA ADRS 139.69 1.87% 2.56 ------------------------------------------------------------- * Dow, S&P close at record highs as Wall Street rallies * Oil prices end mixed on higher stocks, strong equities * Gold drops 1.5 pct on Fed stimulus fears, Cyprus * Copper falls from two-week high; demand worries weigh 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 Thuy Ong; Editing by Shri Navaratnam) Link this Share this Digg this Email Reprints

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