Reuters: Hot Stocks: Australia shares seen climbing on Wall St momentum

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Australia shares seen climbing on Wall St momentum Nov 6th 2013, 21:53 Tweet Share this Email Print Reprints Related Topics Cyclical Consumer Goods » Non-Cyclical Consumer Goods » Wed Nov 6, 2013 4:53pm EST MELBOURNE, Nov 7 (Reuters) - Australian shares are set to open up on Thursday after Wall Street rose to a record high, but gains will be held back as National Australia Bank trades without rights to its dividend. * Local share price index futures rose 0.2 percent to 5,430.0, but that was a 3.8-point discount to the underlying S&P/ASX 200 index close. The benchmark was flat on Wednesday. * New Zealand's benchmark NZX 50 index rose 0.4 percent in early trade. * The Dow industrials closed at a record high, led by gains in Microsoft Corp and encouraging European economic data, while the S&P 500 also rose but closed shy of its own record. * Copper edged lower on Wednesday due in part to concerns about surplus supply in the long term, though the drop was limited by a weaker dollar and strengthening expectations for extended U.S. monetary stimulus. * Investors will be watching for outlooks on 2014 from supermarkets-to-coal conglomerate Wesfarmers Ltd and Fairfax Media Ltd at the annual shareholder meetings on Thursday. ----------------------MARKET SNAPSHOT @ 2142 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1770.49 0.43% 7.520 USD/JPY 98.67 0.18% 0.180 10-YR US TSY YLD 2.6439 -- -0.018 SPOT GOLD 1317.96 0.53% 6.970 US CRUDE 94.9 1.64% 1.530 DOW JONES 15746.88 0.82% 128.66 ASIA ADRS 148.90 0.52% 0.77 ------------------------------------------------------------- * Dow, S&P close higher on Microsoft, Europe * U.S. crude up on surprise drop in U.S. gasoline stocks * Gold rises on dollar drop, snaps seven-day decline * Copper falls slightly, checked by weak dollar 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) Non-Cyclical Consumer Goods 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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