Australia shares seen climbing on upbeat global growth outlook

Wed Jan 15, 2014 4:41pm EST

MELBOURNE, Jan 16 (Reuters) - Australian shares are set to
open higher on Thursday, buoyed by gains on Wall Street, with
miners likely to rise on upbeat U.S. economic data which
reinforced a raised forecast for global growth from the World
Bank.
    
    * Local share price index futures rose 0.5 percent
to 5,229.0, but that was a 16.5-point discount to the underlying
S&P/ASX 200 index close. The benchmark rose 0.6 percent
on Wednesday in its biggest one-day points gain in three weeks.
    * New Zealand's benchmark NZX 50 index slipped 3.7
points to 4,909.4 in early trade.
    * U.S. stocks rose on Wednesday, with the S&P 500 ending at
an all-time closing high after strong earnings from Bank of
America BAC.N and data signaled that the economy is improving.
    * Nickel prices hit two-month highs on Wednesday due to
supply concerns following an Indonesian ban on unprocessed ore
exports. Copper edged up on global growth optimism, while gold
fell for a second session.
    * Global miner Rio Tinto  reported an 8
percent rise in fourth quarter iron ore shipments, but posted a
4 percent fall in refined copper output.  
    * Top Australian oil and gas company Woodside Petroleum
 is also due to release its fourth quarter production
and revenue on Wednesday.
    * Duet Group sought a trading halt ahead of
announcing a capital raising. 
    

----------------------MARKET SNAPSHOT @ 2129 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1848.38      0.52%     9.500
USD/JPY                   104.57       0.36%     0.370
10-YR US TSY YLD     2.8894          --     0.020
SPOT GOLD                 1241.16     -0.29%    -3.550
US CRUDE                  94.31        1.86%     1.720
DOW JONES                 16481.94     0.66%    108.08
ASIA ADRS                146.70      -0.01%     -0.02
-------------------------------------------------------------   
                                                        
        
  * S&P 500 ends at record closing high                     
  * U.S. oil rises $2 on inventory draw                    
  * Gold down for 2nd day as dollar rises, equities gain  
  * Nickel hits 2-mth high on supply worry               
    
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newspapers, double click on    
        
 (Australia/New Zealand bureaux; +61 2 9373 1800/+64 4 471 
4234)
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