Reuters: Hot Stocks: Australia shares seen edging up, caution ahead of election

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

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Australia shares seen edging up, caution ahead of election Sep 4th 2013, 23:10 SYDNEY, Sept 5 | Wed Sep 4, 2013 7:10pm EDT SYDNEY, Sept 5 (Reuters) - Australian shares are set to open slightly higher on Thursday, following a positive lead from Wall Street on strong auto sales and a possible limited military action in Syria, as investors remain cautious ahead of Saturday's national elections. * Local share price index futures rose 0.3 percent to 5,172.0, a 10.4-point premium to the underlying S&P/ASX 200 index close. The benchmark fell 0.7 percent on Wednesday. * New Zealand's benchmark NZX 50 index slipped 0.2 percent to 4,599.7 in early trade. * U.S. stocks rose for a second day on Wednesday as a possible military action in Syria was seen as limited and strong auto sales lifted investor confidence in the U.S. economy. * Copper fell by more than 1 percent on Wednesday as U.S. data reinforced prospects for the Federal Reserve to cut back on economic stimulus. * Iron ore exports to China from Australia's Port Hedland, which handles about a fifth of the global seaborne market for the steel-making raw material, rose strongly in August in a sign of resilient resource demand from the Asian giant. * Australia will release trade balance for July later on Thursday. ----------------------MARKET SNAPSHOT @ 2256 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1653.08 0.81% 13.310 USD/JPY 99.75 -0% 0.000 10-YR US TSY YLD 2.8966 -- 0.000 SPOT GOLD 1390.79 0.00% -0.050 US CRUDE 107.28 0.05% 0.050 DOW JONES 14930.87 0.65% 96.91 ASIA ADRS 141.61 1.18% 1.65 ------------------------------------------------------------- * Wall St up as automakers, tech shares gain * Oil lower as Syrian strike seen limited * Gold down on economic hopes and as Syria fears fade * Copper slides on worries about U.S. stimulus, Syria 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 Philip Barbara) Link this Share this Digg this Email Reprints

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