Reuters: Hot Stocks: Australia shares seen buoyed by U.S.-exposed firms

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Australia shares seen buoyed by U.S.-exposed firms May 13th 2013, 23:11 Tweet Share this Email Print Mon May 13, 2013 7:11pm EDT MELBOURNE, May 14 (Reuters) - Australian shares are set to open higher on Tuesday with the U.S. dollar's rise shoring up companies with large exposure to the U.S. market, including QBE Insurance Group, mall owner Westfield, and building products maker James Hardie. * Local share price index futures rose 0.3 percent to 5,222.0, an 11.7-point premium to the underlying S&P/ASX 200 index close. The benchmark rose 0.1 percent to a five-year closing high on Monday. * New Zealand's benchmark NZX 50 index inched up 4.2 points to 4,675.8 in early trade. * U.S. stocks closed little changed on Monday, pausing after hitting record highs last week, but strength in healthcare issues helped to keep declines in check. * The Aussie dollar slipped to $0.9956 as the greenback extended its gains after U.S. retail data eased fears of an economic slowdown. * The strong greenback has attracted demand for companies whose earnings are largely U.S. dollar-based, which boosts their bottomline when translated back into Australian dollars. * Copper edged up on Monday as weak Chinese factory data for April raised expectations the top metal consumer may embark on further monetary easing, which would underpin demand for metals. * Gold fell 1 percent on Monday, hovering near its lowest price in two weeks as stronger U.S. retail sales data inspired economic hopes and reduced the safe-haven bid for gold. ----------------------MARKET SNAPSHOT @ 2225 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1633.77 0% 0.070 USD/JPY 101.76 -0.06% -0.060 10-YR US TSY YLD 1.9173 -- 0.000 SPOT GOLD 1431.18 0.08% 1.130 US CRUDE 95.01 -0.17% -0.160 DOW JONES 15091.68 -0.18% -26.81 ASIA ADRS 147.37 1.34% 1.95 ------------------------------------------------------------- * Wall St ends near flat after recent highs * Oil falls as China demand slows * Gold down 1 pct on fund outflows, economic hopes * Copper rises on China monetary easing hopes 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) (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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