Reuters: Hot Stocks: Australia shares seen retreating from 5-yr highs, metals may buoy

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Australia shares seen retreating from 5-yr highs, metals may buoy Sep 19th 2013, 22:54 SYDNEY, Sept 20 | Thu Sep 19, 2013 6:54pm EDT SYDNEY, Sept 20 (Reuters) - Australian shares are seen slipping after hitting fresh five-year highs in the previous session as Wall Street retreated slightly overnight, but a rise in metals prices may buoy the market. * Local share price index futures fell 0.3 percent, a 2.6 point discount to the underlying S&P/ASX 200 index close. The benchmark surged 1.1 percent to fresh five-year highs on Thursday. * New Zealand's benchmark NZX 50 index was flat in early trade. * U.S. stocks retreated slightly on Thursday as investors paused after the Federal Reserve's decision to keep its stimulus intact sparked a rally that lifted the Dow and S&P 500 to record highs. * Many market participants had expected the Fed to announce it would begin to trim its stimulus, but the central bank instead said it would continue buying $85 billion in bonds every month. * Copper rose to a three-week high after the U.S. Federal Reserve decision. * Gold rose to one-week highs, extending the previous session's 4.2 percent rally, lifted by technical buying and short-covering. ----------------------MARKET SNAPSHOT @ 2248 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1722.34 -0.18% -3.180 USD/JPY 99.38 -0.05% -0.050 10-YR US TSY YLD 2.7519 -- 0.000 SPOT GOLD 1367.4 0.22% 3.010 US CRUDE 106.41 0.02% 0.020 DOW JONES 15636.55 -0.26% -40.39 ASIA ADRS 149.58 -0.52% -0.79 ------------------------------------------------------------- * Wall Street pulls back following Fed-driven rally * Oil tumbles as Libya output rises, Iran tensions ease * Gold rises on technicals, short-covering after Fed move * Copper hits 3-week high after Fed sticks to stimulus 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 Eric Beech) Link this Share this Digg this Email Reprints

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