Reuters: Hot Stocks: Australia shares seen marking time, await China PMI

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Australia shares seen marking time, await China PMI Apr 30th 2013, 23:10 Tweet Share this Email Print Tue Apr 30, 2013 7:10pm EDT SYDNEY, May 1 (Reuters) - Australian shares are seen holding a tight range in early trade on Wednesday, with weak metal prices offsetting a positive lead from Wall Street as investors wait on the release of Chinese manufacturing data. * Stock index futures edged up 0.1 percent to 5,172.0, which is still at a 19.2-point discount to the underlying S&P/ASX 200 index close. Australian shares climbed 1.3 percent on Tuesday to close at their highest level in almost five years, led by sharp gains in the financial sector. * New Zealand's benchmark NZX 50 index shed 2.1 points to 4,612.3 in early trade. * U.S. stocks rose moderately on Tuesday, with the S&P 500 ending at another all-time closing high on a jump in Apple and encouraging economic data. * Copper fell on Tuesday, recording its steepest monthly loss in nearly a year, as concerns about the pace of global growth weighed on industrial metals, but falls were limited by prospects of further monetary easing. * China, Australia's biggest export market, is due to release the official Purchasing Managers' Index (PMI) at 0100 GMT, which is expected to hit a 12-month high. * Rio Tinto Alcan said it has suspended anode production at its 424,000-tonne-per-year Alma aluminum smelter in northern Quebec while it investigates the cause of a accident overnight that killed a worker at the facility. * Leighton Holdings Ltd said its Habtoor Leighton Group had been awarded an AED250 million oilfield infrastructure contract in Abu Dhabi. * Most Asian markets are closed for holidays. ----------------------MARKET SNAPSHOT @ 2257 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1597.57 0.25% 3.960 USD/JPY 97.39 -0.02% -0.020 10-YR US TSY YLD 1.6734 -- 0.000 SPOT GOLD 1474.55 -0.14% -2.050 US CRUDE 93.12 -0.36% -0.340 DOW JONES 14839.80 0.14% 21.05 ASIA ADRS 143.62 0.27% 0.39 ------------------------------------------------------------- * S&P 500 ends at record high on Apple, economic data * Oil tumbles on weak U.S., euro zone economic reports * Gold falls ahead of central banks' policy meetings * Copper shows steepest monthly fall since last May 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; Editing by Richard Pullin) 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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