Australia shares seen to recover modestly, investors eye results, data
SYDNEY Feb 6 (Reuters) - Australian shares were set for a modest recovery on Thursday after being routed over the past three sessions, but investors may exercise caution ahead of earnings results and retail sales and trade balance data due later in the day.
* Local share price index futures rose 0.3 percent, but were still a 38.3 point discount to the underlying S&P/ASX 200 index close. The benchmark fell 0.5 percent on Wednesday to a 7-week closing low.
* New Zealand's benchmark NZX 50 index rose 0.1 percent in early trade.
* U.S. stocks closed lower on Wednesday after the latest batch of mixed data failed to improve sentiment after Monday's weak report on the manufacturing sector, which drove the S&P 500 to its worst drop since June.
* Copper prices dipped, resuming a downward trend after a brief bounce as investors worried about weak demand in China and the adjustment of the Chinese market to a drop in London prices when it reopens on Friday. Gold rose, but failed to hold an earlier rally.
* Three bidders have submitted final offers for Australian power company Macquarie Generation, a spokesman for the owner said on Wednesday, underscoring solid demand for infrastructure assets.
* Tabcorp Holdings Ltd reported a HY net profit attributed to members at $74.6 million, an increase of 2.3 percent.
* Woolworths Ltd is due to report its second quarter results later on Thursday.
* Sundance Energy Australia Ltd said it expects its U.S. IPO of 7.75 million ADS, priced between $16.50 and $18.50 each. ----------------------MARKET SNAPSHOT @ 2137 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 1751.64 -0.2% -3.560 USD/JPY 101.45 -0.19% -0.190 10-YR US TSY YLD 2.6693 -- 0.045 SPOT GOLD 1257.41 0.22% 2.810 US CRUDE 97.3 0.11% 0.110 DOW JONES 15440.23 -0.03% -5.01 ASIA ADRS 136.78 -0.02% -0.03 -------------------------------------------------------------
* U.S. stocks end down; data fails to lift mood * Brent rises on spread trade, cold supports U.S. oil * Gold rises, off highs, as investors mull mixed U.S. data * Copper gives up gains, down on Chinese worries
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(Australia/New Zealand bureaux; +61 2 9373 1800/+64 4 471 4234)
(Reporting by Thuy Ong; Editing by Mark Heinrich)
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