Reuters: Hot Stocks: Australia shares seen subdued on Wall St lead, Telstra ex-dividend

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Australia shares seen subdued on Wall St lead, Telstra ex-dividend Aug 18th 2013, 23:11 SYDNEY | Sun Aug 18, 2013 7:11pm EDT SYDNEY Aug 19 (Reuters) - Australian shares are seen under pressure on Monday following a soft lead from Wall Street and with flagship phone company Telstra Corp Ltd trading ex-dividend, although firmer metal and oil prices may lend some help to resources stocks. Investors will also focus on local corporate earnings, with top packaging company Amcor Ltd, steelmaker Bluescope Steel Ltd and rail operator Aurizon Holdings Ltd due to report full-year results. * Local share price index futures slipped 0.1 percent to 5,063.0, a 49.9 point discount to the underlying S&P/ASX 200 index close. The benchmark fell 0.8 percent on Friday. * New Zealand's benchmark NZX 50 index was nearly flat in early trade at 4,513.8. * U.S. stocks fell slightly on Friday, and the Dow industrials posted the biggest weekly loss this year as rising bond yields hurt shares paying rich dividends and earnings from retailers disappointed investors. * Copper hit a 10-week high on Friday, heading for a third week of gains, on expectations that a global economic recovery would increase demand for industrial metals. * Australia's biggest phone company Telstra is trading ex-dividend on Monday. ----------------------MARKET SNAPSHOT @ 2210 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1655.83 -0.33% -5.490 USD/JPY 97.58 0.06% 0.060 10-YR US TSY YLD 2.8251 -- 0.000 SPOT GOLD 1377.56 0.12% 1.660 US CRUDE 107.45 -0.01% -0.010 DOW JONES 15081.47 -0.20% -30.72 ASIA ADRS 141.36 0.14% 0.20 ------------------------------------------------------------- * Wall St slips, Dow posts biggest weekly loss of 2013 * Oil ends up for sixth straight session, Egypt supports * Gold posts 5 pct weekly gain on economic uncertainty * Copper hits 10-week high on expectations for recovery 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 Maggie Lu Yueyang; Editing by Chris Gallagher) Link this Share this Digg this Email Reprints

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