Reuters: Hot Stocks: Australia shares seen dipping ahead of data; caution on election, Syria

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Australia shares seen dipping ahead of data; caution on election, Syria Sep 1st 2013, 23:12 SYDNEY, Sept 2 | Sun Sep 1, 2013 7:12pm EDT SYDNEY, Sept 2 (Reuters) - Australian shares are set to open lower on Monday, as investors adopt a cautious approach as they await a slew of domestic data ahead of an election, while uncertainty over a delayed U.S.-led strike against Syria continues to act as a dampener. * Local share price index futures fell 0.4 percent to 5,100.0, a 35.0-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark rose 0.8 percent on Friday. * New Zealand's benchmark NZX 50 index was flat at 4,541.4 in early trade. * U.S. stocks fell in a thinly traded session on Friday as the S&P 500 index recorded its steepest decline since May 2012 and investors avoided making large bets before a long weekend with the situation about Syria still uncertain. * Copper fell to a three-week low on Friday, pressured by a stronger dollar and expectations that U.S. stimulus would be withdrawn starting in September, which could hamper growth and crimp the flow of money invested in commodities. * Australia's Prime Minister Kevin Rudd, struggling to avert a landslide election defeat in six days, pledged tax breaks and education programmes on Sunday to counter a slowing economy in a last-ditch plea to voters. * Australia will release a slew of economic data on Monday, including building permits for July, business inventories and corporate profits for the second quarter. * Discovery Metals Ltd is due to announce the outcome of its discussions with potential bidders. ----------------------MARKET SNAPSHOT @ 2228 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1632.97 -0.32% -5.200 USD/JPY 98.28 0.13% 0.130 10-YR US TSY YLD 2.7894 -- 0.000 SPOT GOLD 1394.97 0.02% 0.270 US CRUDE 106.34 -1.22% -1.310 DOW JONES 14810.31 -0.21% -30.64 ASIA ADRS 136.57 -0.99% -1.36 ------------------------------------------------------------- * Wall St falls, ends worst month since May 2012 * Oil slides on U.S. response to Syria, but up for week * Gold drops below $1,400, set for second straight monthly gain * Copper falls on firm dollar, on Fed tapering concerns 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 Shri Navaratnam) Link this Share this Digg this Email Reprints

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