Australia shares seen flat, GrainCorp in focus

Thu Nov 28, 2013 5:26pm EST

SYDNEY, NOV 29 (Reuters) - Australian shares are likely to
open flat on Friday given an absence of strong offshore leads
with U.S. markets closed for the Thanksgiving holiday.  
    But mining stocks may be boosted after Rio Tinto 
 pulled the FTSE 100 in positive territory on Thursday.
    Australia's agribusiness, GrainCorp will be in
focus after Treasurer Joe Hockey rejected the A$2.8 billion
(2.55 billion) takeover bid by Archer Daniels Midland (ADM)
 on Friday. 
     * Local share price index futures rose 2 points to
5,354.00, a 19.66 point premium to the underlying S&P/ASX 200
index close. The benchmark rose 1.46 points to 5,334.34.
    * New Zealand's benchmark NZX 50 index fell 9.14 to
4,800.53 in early trade.
    * Wall Street closed for Thanksgiving public holiday. 
    * Copper steadied as supply offset falling warehouse stocks,
while Aluminum slide to lowest price in more than four years.
----------------------MARKET SNAPSHOT @ 2150 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1807.23      0.25%     4.480
USD/JPY                   102.28       0.13%     0.130
10-YR US TSY YLD     2.7373          --     0.000
SPOT GOLD                 1243.54      0.00%     0.000
US CRUDE                  92.24       -0.07%    -0.060
DOW JONES                 16097.33     0.15%     24.53
ASIA ADRS                149.40       0.27%      0.40
-------------------------------------------------------------   
                                                        
  * Wall St closed for Thanksgiving holiday        
  * Oil drops below $111 on high U.S. output      
  * Gold snaps 2-day fall on lower dollar        
  * Copper steadies after two day straight falls 
    
    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)
        

 (pauline.askin@thomsonreuters.com)
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