Reuters: Hot Stocks: Australia shares seen firmer after sharp sell-off

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Australia shares seen firmer after sharp sell-off May 23rd 2013, 23:16 SYDNEY | Thu May 23, 2013 7:16pm EDT SYDNEY May 24 (Reuters) - Australian shares are seen edging up from a one-month low on Friday after weak manufacturing data from China knocked the market down 2 percent in the previous session. A rise in gold prices may lend support to miners. * Local share price index futures rose 0.3 percent to a 23.6-point premium to the underlying S&P/ASX 200 index close. The benchmark fell to its lowest level since April 24 on Thursday, closing at 5,062.4. * New Zealand's benchmark NZX 50 index inched up 0.1 percent to 4,594.3 in early trade. * U.S. stocks slipped on Thursday but finished well off their session lows as a rally in Hewlett-Packard's shares offset worries about the weak Chinese data and the prospects of the Federal Reserve reducing its monetary stimulus. * The flash HSBC Purchasing Managers' Index (PMI) for China fell to 49.6 for May, slipping under the 50-point level demarcating expansion from contraction for the first time since October. * Copper slid over 3 percent on Thursday after the weak Chinese data, which added to fears that recovery in the top metals consumer has stalled and wiped out copper price gains over the last week. * Gold rose sharply as investors sought a safe-haven after the dollar and equity markets were hit by weak manufacturing data that indicated stagnant global economic growth. * Exploration company Syrah Resources Ltd and funeral home director Invocare Ltd hold their annual general meetings on Friday. ----------------------MARKET SNAPSHOT @ 2254 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1650.51 -0.29% -4.840 USD/JPY 102.04 0.03% 0.030 10-YR US TSY YLD 2.0157 -- 0.000 SPOT GOLD 1391.25 0.04% 0.550 US CRUDE 94.22 -0.03% -0.030 DOW JONES 15294.50 -0.08% -12.67 ASIA ADRS 142.42 -2.50% -3.65 ------------------------------------------------------------- * Wall St sags, but ends off session lows * Oil prices pare losses on U.S. equities turnaround * Gold up sharply as dollar, stocks slide * Copper falls as China data hits recovery hopes 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

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions