Reuters: Hot Stocks: Australia shares seen edging higher on gains in metals prices

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Australia shares seen edging higher on gains in metals prices Oct 2nd 2013, 23:07 SYDNEY | Wed Oct 2, 2013 7:07pm EDT SYDNEY Oct 3 (Reuters) - Australian shares are set to edge higher in early trade, buoyed by mining stocks after a recovery in metals prices. But gains may be capped as investors remain cautious on the U.S. government shutdown. * Local share price index futures rose 0.2 percent, a 7.4-point premium to the underlying S&P/ASX 200 index close. The benchmark rose 0.2 percent on Wednesday. * New Zealand's benchmark NZX 50 index fell 0.4 percent in early trade. * Wall Street retreated on Wednesday, the second day of a partial U.S. government shutdown, as political wrangling in Washington raised investor concerns that the stoppage could be prolonged. * Copper rose off a one-week low as the dollar struggled against the euro on weak U.S. jobs data and after the European Central Bank decided to keep rates unchanged. * Gold rose more than 2 percent as a fall in U.S. equities sparked bargain hunting that recouped most of bullion's tumble the previous session. ----------------------MARKET SNAPSHOT @ 2242 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1693.87 -0.07% -1.130 USD/JPY 97.42 0.09% 0.090 10-YR US TSY YLD 2.6191 -- 0.000 SPOT GOLD 1315.2 0.04% 0.560 US CRUDE 103.83 -0.26% -0.270 DOW JONES 15133.14 -0.39% -58.56 ASIA ADRS 146.61 -0.06% -0.09 ------------------------------------------------------------- * Wall St ends lower on worries of prolonged shutdown * Oil rises, Brent/WTI spread narrows on Keystone news * Gold up on govt shutdown, jobs data below forecast * Copper turns positive on back of weak dlr, ECB rates 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 Edwina Gibbs) Link this Share this Digg this Email Reprints

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