Australia shrs set for cautious open, resource stks may support

Sun Jan 19, 2014 5:14pm EST

SYDNEY, Jan 20 (Reuters) - Australian stocks were set for a
cautious start on Monday following a decline on Wall Street with
some technical selling, while resource stocks could offset a
subdued start of the week as global miner BHP Billiton
 's U.S. ADRs rose 0.2 percent on Friday. 
    
    * Local share price index futures was flat at
5,265.0, a 40.9-point discount to the underlying S&P/ASX 200
index close. The local benchmark slipped 0.1 percent in
the prior session.
    * New Zealand's benchmark NZX 50 index slipped 1.2
points to 4,892.7 in early trade.
    * The S&P 500 and Nasdaq declined on Friday as results from
Intel and General Electric were the latest to
dampen the view on fourth-quarter earnings.
    * Nickel was steady on Friday and notched up a 6 percent
rise this week, its biggest weekly gain in almost a year, after
Indonesia banned exports of ore last weekend.
     Gold rose on Friday as weakness in U.S. equities, strong
fund buying and Asian physical demand lifted bullion to its
fourth consecutive weekly gain. 
    * Global mining group BHP Billiton said on Friday
it had started talks with employees at its Bayside aluminium
smelter in South Africa about possibly closing the operation, a
move that could cost 450 jobs. 
    * Australia's Macquarie Bank said on Friday that it
had not concluded a deal to buy the uranium trading desk of
Goldman Sachs after two trade sources said that the
transaction had been agreed.    
    
----------------------MARKET SNAPSHOT @ 2203 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1838.7      -0.39%    -7.190
USD/JPY                   104.2       -0.09%    -0.090
10-YR US TSY YLD     2.8194          --     0.000
SPOT GOLD                 1253.62      0.00%     0.000
US CRUDE                  94.37        0.44%     0.410
DOW JONES                 16458.56     0.25%     41.55
ASIA ADRS                146.68      -0.21%     -0.30
-------------------------------------------------------------   
                                                        
  * S&P, Nasdaq end down with Intel, GE; Dow gains         
  * Oil rises on gasoline, heating fuel demand            
  * Gold up 4th week, Deutsche quits gold price-setting  
  * LME nickel sees 6 pct weekly gain on Indonesia ban  
    
    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 Jonathan Oatis)
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