Reuters: Hot Stocks: Australia shares seen steady, on watch for U.S. data

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Australia shares seen steady, on watch for U.S. data Oct 21st 2013, 21:59 Tweet Share this Email Print Reprints Mon Oct 21, 2013 5:59pm EDT MELBOURNE, Oct 22 (Reuters) - Australian shares will struggle to scale new five-year highs on Tuesday after a flat finish on Wall Street, with investors awaiting a stream of U.S. data for signs on when the Federal Reserve might start tapering its bond buying. * Local share price index futures rose 0.2 percent to 5,346.0, but that was a 5.8-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.6 percent to hit a five-year closing high on Monday. * New Zealand's benchmark NZX 50 index was flat in early trade, holding just below Monday's all-time high. * U.S. stocks ended little changed on Monday as lackluster earnings reports from McDonald's and others fed concerns that equities were overpriced after the S&P index's run to record highs last week. * Copper steadied on Monday as investors awaited a deluge of U.S. economic data that could signal a delay to when the United States might start tapering its monetary stimulus, but signs of rapid growth in supply of the metal kept a lid on gains. * Top global miner BHP Billiton reported its September quarter production on Tuesday, with copper output more than a fifth higher than analysts at RBC Capital Markets had forecast. It also raised its iron ore production forecast for the 2014 financial year. ----------------------MARKET SNAPSHOT @ 2150 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1744.66 0.01% 0.160 USD/JPY 98.16 -0.02% -0.020 10-YR US TSY YLD 2.6014 -- 0.012 SPOT GOLD 1314.89 -0.02% -0.250 US CRUDE 99.22 0.00% 0.000 DOW JONES 15392.20 -0.05% -7.45 ASIA ADRS 151.71 -0.41% -0.62 ------------------------------------------------------------- * Wall St nearly flat on lackluster earnings * U.S. crude sinks below $100, Brent gap widens * Gold flat, volume light after last week's rally * Copper steadies on hopes for delayed tapering 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) (Editing by Paul Simao) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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