Reuters: Hot Stocks: Australia shares seen higher after robust US job data

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Australia shares seen higher after robust US job data May 5th 2013, 22:49 Tweet Share this Email Print Sun May 5, 2013 6:49pm EDT SYDNEY, May 6 (Reuters) - Australian shares are set to rise at the open on Monday, buoyed by strong base metals and oil prices, after surprisingly robust U.S. April jobs data raised investor confidence. * Local share price index futures gained 1.1 percent, a 53.5-point premium to the underlying S&P/ASX 200 index close. The benchmark finished largely flat on Friday, shedding 0.5 points. * New Zealand's benchmark NZX 50 index rose 0.6 percent to 4,571.7 in early trade. * The Dow and S&P 500 advanced to all-time closing highs on Friday, with major indexes jumping 1 percent after an unexpectedly strong April jobs report eased concerns about an economic slowdown. * Copper rose more than 6 percent on Friday, its strongest daily gain in 18 months, as economic stimulus moves by central banks raised investor confidence over growth of industrial metals demand. * Standard & Poor's Ratings Services said on Friday that Archer Daniels Midland Co's planned A$3.0 billion ($3.1 billion) acquisition of Australia's GrainCorp Ltd should yield benefits for the U.S. agribusiness company in the coming years. * Australia's Q1 retail sales, inflation and job advertisements figures are due on Monday. ----------------------MARKET SNAPSHOT @ 2232 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1614.42 1.05% 16.830 USD/JPY 99.18 0.14% 0.140 10-YR US TSY YLD 1.7399 -- 0.000 SPOT GOLD 1469.7 -0.03% -0.500 US CRUDE 96.4 0.83% 0.790 DOW JONES 14973.96 0.96% 142.38 ASIA ADRS 143.79 0.84% 1.20 ------------------------------------------------------------- * Dow, S&P 500 at record levels after jobs report * Oil rallies to three-week high on strong US jobs data * Gold flat after U.S. jobs data, up slightly for week * Copper leaps 6 pct on stimulus push, jobs data For a digest of the day's business stories in Australian newspapers, double click on (Reporting by Maggie Lu Yueyang; Editing by Richard Pullin) 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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