Australia shares to consolidate break above 4,400

Thu Nov 22, 2012 5:37pm EST

CANBERRA, Nov 23 (Reuters) - Australian shares will look to
consolidate their return above 4,400 points on Friday, with the
market lacking early drivers after U.S. markets were closed for
a holiday.
    
    * Local share price index futures edged up 0.1
percent, or 4 points, to 4,427, a 13.9-point premium to the
underlying S&P/ASX 200 index close. The benchmark rose 1
percent to its highest close in 10 days on Thursday.
    * New Zealand's benchmark NZX 50 index rose 0.2
percent to 4,006.3 in early trade.
    * U.S. markets were closed on Thursday for the Thanksgiving
holiday.
    * Copper rose on Thursday after a manufacturing survey from
top consumer China boosted optimism about the pace of economic
recovery, with a weaker dollar against the euro also helping to
lift metals prices. 
    * The China HSBC Flash Manufacturing Purchasing Managers
Index (PMI) rose to a 13-month high of 50.4 in November, the
latest indicator of recovery in Australia's top export market.
.  
    * Australia's struggling department chain David Jones Ltd
 will hold its annual shareholder meeting on Friday. 
    * Copper miner Discovery Metals Ltd will respond
officially to the A$824 million offer from China's Cathay
Fortune Corp around Nov 23. The suitor has gone hostile after
the miner's board rejected a similar offer in October. 
        
----------------------MARKET SNAPSHOT @ 2203 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1391.03      0.23%     3.220
USD/JPY                   82.44       -0.01%    -0.010
10-YR US TSY YLD     1.6796          --     0.000
SPOT GOLD                 1729.05      0.00%     0.000
US CRUDE                  87.11       -0.31%    -0.270
DOW JONES                 12836.89     0.38%     48.38
ASIA ADRS                120.25       0.41%      0.49
-------------------------------------------------------------   
                                                         
       
  * Oil dips in holiday-thinned trade on Gaza, EU data     
  * Gold inches up as stocks rise, dollar fades           
  * Copper gains on China economic outlook, dollar's fall 
    
    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 John Mair)