Reuters: Hot Stocks: Australia shares seen opening up on higher metal prices

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Australia shares seen opening up on higher metal prices Aug 25th 2013, 22:49 Tweet Share this Email Print Sun Aug 25, 2013 6:49pm EDT SYDNEY, Aug 26 (Reuters) - Australian shares are set to open higher on Monday, following gains posted on Wall Street amid a jump in Microsoft shares, as higher metal prices lend support to miners while investors continue to focus on local corporate earnings. * Local share price index futures rose 0.4 percent to 5,129, a 5.6-point premium to the underlying S&P/ASX 200 index close. The benchmark climbed 1 percent on Friday. * New Zealand's benchmark NZX 50 index edged up 0.2 percent to 4,532.4 in early trade. * U.S. stocks rose in light trading on Friday, led by a jump in Microsoft shares, as trading took place without interruption a day after the Nasdaq stock exchange suffered an unprecedented, three-hour trading halt. * Copper rose on Friday as signs of re-emerging appetite for the red metal in top consumer China boosted the demand outlook and helped offset concerns over a tapering of monetary stimulus in the United States. * Shanghai steel futures rebounded on Friday after a three-day slide, backed by expectations a stabilizing Chinese economy would boost demand in the world's top consumer, which should support demand for iron ore. * Seven Group Holdings Ltd will report its full-year profits on Monday. Boart Longyear Ltd is due to report first-half results. ---------------- MARKET SNAPSHOT @ 2240 GMT ----------------- INSTRUMENT LAST PCT CHG NET CHG S&P 500 1,663.5 0.39% 6.540 USD/JPY 98.68 -0.06% -0.060 10-YR US TSY YLD 2.8183 -- 0.000 SPOT GOLD 1,402.06 0.40% 5.620 US CRUDE 106.96 0.51% 0.540 DOW JONES 15,010.51 0.31% 46.77 ASIA ADRS 140.21 1.03% 1.43 ------------------------------------------------------------- * Wall St ends up day after Nasdaq outage, Microsoft jumps * Oil climbs, gasoline gains on E.Coast refinery problems * Gold up 1.6 pct, near $1,400, on poor US homes sales * Copper closes higher on China demand growth prospects For a digest of the day's business stories in Australian newspapers, double click on (Reporting by Maggie Lu Yueyang, editing by G Crosse) Tweet this Link this Share this Digg this Email Reprints Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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