Reuters: Hot Stocks: Australia shares seen inching up on China growth relief

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Australia shares seen inching up on China growth relief Aug 22nd 2013, 23:16 Tweet Share this Email Print Thu Aug 22, 2013 7:16pm EDT MELBOURNE, Aug 23 (Reuters) - Australian shares are set to open higher on Friday with miners expected to get a boost on relief over a turnaround in Chinese manufacturing activity, while another batch of corporate results is expected to influence the trading session. * Local share price index futures rose 0.9 percent to 5,082.0, a 6.3-point premium to the underlying S&P/ASX 200 index close. The benchmark fell 0.5 percent on Thursday. * New Zealand's benchmark NZX 50 index rose 0.3 percent to 4,543.5 in early trade after pay television operator Sky Network Ltd posted an 11 percent rise in full year profit while Telecom Corp Ltd reported a sharp fall in annual profit. * U.S stocks closed higher on Thursday in a session marred by a historic trading halt of roughly three hours on the Nasdaq stock exchange as a result of technical problems. * Copper rose after manufacturing data for August from top metals consumer China suggested the world's second-biggest economy might be stabilising and its demand for commodities could pick up. China is Australia's major export market. * Purchasing managers surveys also showed better-than-expected growth in the euro zone, and U.S. manufacturing activity rising to a five-month high in August. * Lend Lease Corp reported a 9 percent rise in operating profit to A$553 million, just beating analysts' forecasts at A$545 million, according to Thomson Reuters I/B/E/S. * Mirvac Group reported a 66 percent drop in attributable profit to A$139.9 million. * James Packer's casino group Crown Ltd is also due to report annual results on Friday, with analysts expecting net profit before one-offs of A$452 million, according to Thomson Reuters I/B/E/S. ----------------------MARKET SNAPSHOT @ 2304 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1656.96 0.86% 14.160 USD/JPY 98.7 0% -0.010 10-YR US TSY YLD 2.8918 -- 0.000 SPOT GOLD 1378.26 0.22% 3.020 US CRUDE 105.2 0.16% 0.170 DOW JONES 14963.74 0.44% 66.19 ASIA ADRS 138.78 1.24% 1.70 ------------------------------------------------------------- * Wall St climbs after extended Nasdaq outage * Oil edges up on strong China, Euro zone data * Gold up after Chinese PMI data, downside risk seen * Copper climbs on China manufacturing data 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 Sonali Paul; Editing by Shri Navaratnam) 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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