Australia shares seen higher on Greek rescue hopes

Sun Nov 25, 2012 4:59pm EST

MELBOURNE, Nov 26 (Reuters) - Australian shares look set to
open higher on Monday, with investors hoping lenders will reach
an agreement later in the day to release aid to Greece to avert
bankruptcy in the euro zone's weakest nation.  
    
    * Stock index futures rose 0.7 percent to 4,450.0,
a 37-point premium to the underlying S&P/ASX 200 index.
The benchmark ended flat on Friday but was up 1.8 percent for
the week.
    * New Zealand's benchmark NZX 50 index rose 0.2
percent to 4,016.5 in early trade.
    * U.S. stocks rose for a fifth day during a
holiday-shortened, thinly traded session on Friday as investors
picked up recently beaten-down shares of large technology
companies.
    * Copper rose on Friday, helped by a weaker dollar and signs
of progress in negotiations to get funds to Greece, though gains
were limited by concerns over weak demand, especially in top
metals consumer China.
    * Rare earths miner Lynas Corp's may be in the
frame following a large protest in Malaysia's capital against
the opening of the Australian company's rare-earths processing
plant on the country's east coast. 
     
----------------------MARKET SNAPSHOT @ 2134 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1409.15       1.3%    18.120
USD/JPY                   82.33       -0.07%    -0.060
10-YR US TSY YLD     1.6934          --     0.000
SPOT GOLD                 1752.39     -0.01%    -0.110
US CRUDE                  88.28        1.03%     0.900
DOW JONES                 13009.68     1.35%    172.79
ASIA ADRS                122.41       1.80%      2.16
-------------------------------------------------------------   
                                                        
        
  * Wall St ends higher in short session, led by techs      
  * Oil rises on Egypt violence, euro zone optimism        
  * Gold above $1,750, up 1.4 pct on weak dlr, technicals 
  * Copper up on Greek hopes but China demand weighs     
    
    For a digest of the day's business stories in Australian 
newspapers, double click on    

 (Reporting by Sonali Paul; Editing by John Mair)