Reuters: Hot Stocks: Australia shares rebound, helped by metal prices, Wall St gains

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Australia shares rebound, helped by metal prices, Wall St gains Apr 17th 2013, 00:26 Tweet Share this Email Print Tue Apr 16, 2013 8:26pm EDT (Updates to open) SYDNEY, April 17 (Reuters) - Australian shares rose 0.7 percent in early trade on Wednesday, helped by a rebound in metal prices, higher iron ore production from BHP Billiton Ltd and encouraging data in the United States. BHP edged up 0.3 percent, after the global miner said its March quarter iron ore production was up 6 percent and it anticipated the annualized production rate approaching 200 million tonnes for the June 2013 quarter. Fortescue Metals Group added 1.1 percent. The benchmark S&P/ASX 200 index added 33.9 points to 4,984.7 by 0010 GMT. The benchmark fell 0.3 percent on Tuesday. U.S. stocks jumped more than 1 percent on Tuesday, a day after their worst decline since November, as gold prices rebounded and earnings from Coca-Cola and Johnson & Johnson improved the outlook for first-quarter results. Inflation data, which reinforced expectations that the Federal Reserve will keep its stimulus plan in place, added to bullish sentiment. New Zealand's benchmark NZX 50 index rose 0.7 percent to 4,458.7. (Reporting by Maggie Lu Yueyang; Editing by Shri Navaratnam) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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