Reuters: Hot Stocks: Australia shares seen falling on volatile Wall St, weak metals prices

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Australia shares seen falling on volatile Wall St, weak metals prices Jun 11th 2013, 23:10 Tue Jun 11, 2013 7:10pm EDT Australian shares are seen falling after Wall Street slid overnight in a volatile session on disappointment that the Bank of Japan failed to announced measures to calm volatility in financial markets. Weak metals prices may hit miners. * Local share price index futures fell 0.8 percent, a 32.1-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.4 percent on Tuesday, snapping 3 sessions of losses. * New Zealand's benchmark NZX 50 index slipped 0.1 percent in early trade. * Gold hit a near three-week low on Tuesday, ending lower on a lack of new measures from the Bank of Japan. * Copper hit its lowest in more than a month on Tuesday, pressured by worries that central banks could soon start scaling back on stimulus measures and concerns about the outlook for demand from top consumer China. * Global miner Rio Tinto Ltd plans to start exporting copper from the $6.2-billion Oyu Tolgoi mine in Mongolia on Friday, according to an invitation received by Reuters, marking the opening of a mine that will eventually make up one-third of the country's economy. * BHP Billiton Ltd has agreed to a rise of around 3 percent in the fees it will pay Japanese smelters to process its copper concentrate in the second half, after several mine shutdowns hit global supply, dealing the firm a stronger hand in talks. ----------------------MARKET SNAPSHOT @ 2300 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1626.13 -1.02% -16.680 USD/JPY 96.12 0.11% 0.110 10-YR US TSY YLD 2.19 -- 0.000 SPOT GOLD 1377.36 -0.12% -1.630 US CRUDE 94.95 -0.45% -0.430 DOW JONES 15122.02 -0.76% -116.57 ASIA ADRS 135.09 -1.10% -1.51 ------------------------------------------------------------- * Wall St slides as BOJ move rattles trading * Oil pares losses despite fears of c. bank tightening * Gold down, worries over central bank stimulus weigh * Copper falls to 1-mth low on China, c. bank fears 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 Thuy Ong; Editing by Edwina Gibbs) Link this Share this Digg this Email Reprints

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