Australia shares seen extending gains; await inflation data, China PMI

Tue Apr 22, 2014 7:11pm EDT

Australian shares are set to rise on Wednesday morning, following gains on Wall Street and ahead of local consumer inflation data, with investors also awaiting a private survey of China's manufacturing data.

* Stock index futures rose 0.4 percent to 5,494.0, a 0.3 percent or 14.7 point premium to the underlying S&P/ASX 200 index. The benchmark rose 0.5 percent on Tuesday.

* New Zealand's benchmark NZX 50 index rose 0.4 percent to 5,125.7 in early trade.

* U.S. stocks rose on Tuesday as a host of solid earnings reports, along with strength in the healthcare sector, helped lift the S&P 500 and Nasdaq to a sixth straight advance.

* Nickel hit a 14-month high on Tuesday as traders digested Chinese data that showed just how far an Indonesian ban on exports of unprocessed minerals has tightened market balances.

* Gold miner Newcrest Mining Ltd will report its March quarter production results on Wednesday.

* HSBC will release its China flash Purchasing Managers' Index for April on Wednesday. The HSBC PMI has been below 50 since January, suggesting that small Chinese manufacturers have been struggling this year.

* Australia's quarterly consumer inflation figure is due later on Wednesday.

----------MARKET SNAPSHOT @ 22:54 GMT ------------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1,879.55 0.41% 7.660 USD/JPY 102.60 0% 0.000 10-YR US TSY YLD 2.711 -- 0.000 SPOT GOLD $1,282.71 -0.02% -0.290 US CRUDE $101.96 0.21% 0.210 DOW JONES 16514.37 0.40% 65.12 ASIA ADRS 142.40 -0.12% -0.17 -------------------------------------------------------------

* Earnings, healthcare give Wall St. 6th straight gain * Oil falls on expectations of higher US stocks * Gold hits lowest since Feb on ETF outflows, S&P gains * Nickel hits 14-month peak on tight supply

For a digest of the day's business stories in Australian newspapers, double click on

(Reporting by Maggie Lu Yueyang; Editing by Richard Pullin)

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