Reuters: Hot Stocks: Australia shares seen subdued, gold miners may support

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Australia shares seen subdued, gold miners may support Sep 24th 2013, 23:13 SYDNEY, Sept 25 | Tue Sep 24, 2013 7:13pm EDT SYDNEY, Sept 25 (Reuters) - Australian shares look set for a sluggish start on Wednesday after Wall Street extended its recent slide amid uncertainty over U.S. fiscal and monetary policy, but a rise in gold prices may support the market. * Local share price index futures slipped 0.1 percent but was a 4.8-point premium to the underlying S&P/ASX 200 index close. The benchmark fell 0.4 percent on Tuesday, its third consecutive session of declines. * New Zealand's benchmark NZX 50 index was flat in early trade. * The Dow and S&P 500 ended lower on Tuesday, extending their recent slide to a fourth session as worries over a possible U.S. government shutdown added to investor concern. * Though uncertainty remains over the Federal Reserve's intentions to scale back its stimulus, Tea Party-backed U.S. senators are threatening to stall a bill to fund the U.S. government. * Copper fell for a third straight session on renewed uncertainty over the Fed and as more supply hits the market. * Gold rose as physical buying at lower prices and technical support helped bullion snap a three-day losing streak. * Spot iron ore prices edged up as some Chinese mills replenished stocks, but interest from the biggest importer of the commodity was slow, reflecting a subdued steel market. * Department store David Jones Ltd will report its full year earnings later in the day. * The Reserve Bank of Australia will release its Financial Stability Review report later on Wednesday. This is a quarterly report card on the health of the banking sector by Australia's central bank. ----------------------MARKET SNAPSHOT @ 2254 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1697.42 -0.26% -4.420 USD/JPY 98.77 0.06% 0.060 10-YR US TSY YLD 2.6552 -- 0.000 SPOT GOLD 1323.56 0.07% 0.970 US CRUDE 103.29 0.16% 0.160 DOW JONES 15334.59 -0.43% -66.79 ASIA ADRS 148.35 -0.03% -0.05 ------------------------------------------------------------- * Dow, S&P 500 extend recent slide, down 4th session * Brent rises in heavy spread trading, eyes on Iran * Gold rises on bargain hunting, snaps 3-day drop * Copper falls for 3rd session on supply, Fed 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 Thuy Ong; Editing by Shri Navaratnam) Link this Share this Digg this Email Reprints

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