Reuters: Hot Stocks: Australia shares seen opening higher, eyeing banks earnings

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Australia shares seen opening higher, eyeing banks earnings Oct 27th 2013, 21:45 Tweet Share this Email Print Reprints Sun Oct 27, 2013 5:45pm EDT SYDNEY, Oct 28 (Reuters) - Australian shares are set to open higher, led by the S&P 500, which ended at another record high on strong technology shares and with investors looking to big banks again for their earnings. But weaker metal prices will probably keep miners in check. * Local share price index futures rose 0.6 percent To 5,418.0, a 31.7-point premium to the underlying S&P/ASX 200 index close. The benchmark inched up 0.3 percent on Friday. * New Zealand's benchmark NZX 50 index advanced 0.6 percent to 4,863.4 in early trade. * The S&P 500 ended at another record high on Friday, boosted by gains in technology shares after strong results from Microsoft and Amazon.com. * Copper fell on Friday to its lowest in two weeks on expectations for a growing surplus, patchy data on global factory growth and fears top consumer China would clamp down on credit. * Shanghai steel futures fell to their lowest in almost four months on Friday, declining for the eighth week in 10 amid tepid demand. * Australia's largest investment bank Macquarie Group Ltd is pushing rapidly into home mortgages, threatening to disrupt a highly profitable segment of the banking industry long dominated by the country's top four lenders. * Australia and New Zealand Banking Group Ltd (ANZ) , Commonwealth Bank of Australia, National Australia Bank Ltd (NAB) and Westpac Banking Corp are on track to report a combined record profit for the fifth consecutive year, starting Tuesday. ----------------------MARKET SNAPSHOT @ 2137 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1759.77 0.44% 7.700 USD/JPY 97.61 -0.01% -0.010 10-YR US TSY YLD 2.5106 -- 0.000 SPOT GOLD 1352.28 0.00% 0.000 US CRUDE 97.89 0.80% 0.780 DOW JONES 15570.28 0.39% 61.07 ASIA ADRS 149.47 -0.67% -1.01 ------------------------------------------------------------- * S&P 500 ends at record high, boosted by tech results * U.S. oil futures edge up; Brent/WTI spread narrows * Gold up on weak economic data, deferred tapering of Fed stimulus * Copper hits 2-week low on outlook for demand, surplus 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 Alison Williams) Tweet this Link this Share this Digg this Email Reprints Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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