Reuters: Hot Stocks: Australia shares seen rising, metals prices ease

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Australia shares seen rising, metals prices ease Apr 23rd 2013, 23:07 SYDNEY, April 24 | Tue Apr 23, 2013 7:07pm EDT SYDNEY, April 24 (Reuters) - Australian shares are seen rising on Wednesday after a broad rally on Wall St overnight, but weak metals prices may hit miners, while investors will keep an eye on local CPI data due out later. * Local share price index futures rose 1 percent, a 35.8-point premium to the underlying S&P/ASX 200 index close. The benchmark rose 1 percent on Tuesday. * New Zealand's benchmark NZX 50 index inched up 0.2 percent to 4,525.5 points in early trade. * U.S. stocks climbed on Tuesday in a broad rally, recovering from sharp declines sparked by a "bogus" Associated Press tweet about explosions at the White House. * Copper fell to a fresh 18-month low on Tuesday as disappointing economic data from top metals consumer China reinforced conerns over prospects for demand. * Gold fell more than 1 percent as a stronger dollar put pressure on prices and as the outflow from the world's biggest gold exchange-traded fund (EFT) accelerated and accentuated an investor shift towards equities and other assets. * Brent crude oil edged lower on Tuesday in reaction to weak manufacturing data in China and Europe, but it closed above $100 a barrel for a second straight day as it drew come support from strong gains in U.S. equity markets. * Australia's CPI data is due out today at 0130 GMT. Consumer prices are expected to remain benign with underlying CPI well within the RBA's 2-3 pct target band. ----------------------MARKET SNAPSHOT @ 2254 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1578.78 1.04% 16.280 USD/JPY 99.41 -0.05% -0.050 10-YR US TSY YLD 1.7065 -- 0.000 SPOT GOLD 1413.01 0.05% 0.770 US CRUDE 89.5 0.36% 0.320 DOW JONES 14719.46 1.05% 152.29 ASIA ADRS 139.74 0.59% 0.82 ------------------------------------------------------------- * Wall St jumps after recovery from Twitter-led drop * U.S. crude oil futures settle at $88.01/BBL, up 0.32% * Gold down on stronger dollar, EFT outflows * Copper at fresh 1-1/2 year low on weak China data For a digest of the day's business stories in Australian newspapers, double click on (Reporting by Thuy Ong; Editing by Richard Pullin) Link this Share this Digg this Email Reprints

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