Reuters: Hot Stocks: Australia shares seen falling further on global stimulus concerns

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Australia shares seen falling further on global stimulus concerns Jun 12th 2013, 23:10 SYDNEY, June 13 | Wed Jun 12, 2013 7:10pm EDT SYDNEY, June 13 (Reuters) - Australian shares are seen extending their losses from five-month lows on Thursday as persistent concerns about central banks rolling back their stimulus continued to take a toll on global equities. * Local share price index futures fell 0.8 percent, a 30.5-point discount to the underlying S&P/ASX 200 index close. The benchmark fell 0.7 percent to close at a five-month low on Wednesday. * New Zealand's benchmark NZX 50 index fell 0.3 percent in early trade. * U.S. stocks fell on Wednesday, with the Dow sliding more than 100 points on another volatile day as traders extended a selloff driven by concern about central banks winding down their stimulus measures. * Copper rose off its lowest level in almost six weeks on Wednesday as concerns over supply tightness increased after the owner of the world's second-largest mine declared force majeure on copper deliveries. * Gold rose as sharp losses in U.S. equities and a drop in the U.S. dollar prompted the metal to rebound from the previous session's three-week low. * Mining giant Rio Tinto has agreed to sell its Eagle project to Lundin Mining Corp for $325 million in cash. * Australian employment data is due out later on Thursday. ----------------------MARKET SNAPSHOT @ 2256 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1612.52 -0.84% -13.610 USD/JPY 95.93 -0.07% -0.070 10-YR US TSY YLD 2.228 -- 0.000 SPOT GOLD 1388.65 0.06% 0.860 US CRUDE 95.69 -0.20% -0.190 DOW JONES 14995.23 -0.84% -126.79 ASIA ADRS 134.18 -0.67% -0.91 ------------------------------------------------------------- * Wall St slides as worry lingers over future of stimulus * Oil ends modestly higher, weak demand outlook weighs * Gold rebounds from 3-week lows as equities slide * Copper up on tight supply, Asia weakness limits gains 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 Shri Navaratnam) Link this Share this Digg this Email Reprints

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