Australia shares seen steady ahead of Fed policy meeting

Tue Jun 17, 2014 7:46pm EDT

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SYDNEY, June 18 (Reuters) - Australian shares are seen
holding their ground in early trade as investors remain cautious
over turmoil in Iraq and ahead of the Federal Reserve's two-day
meeting, with gold and iron ore little changed overnight.
    Resource stocks may be in focus as China releases house
price data later on Wednesday. 
    
    * Local share price index futures dipped 0.1
percent to 5,395.0, a slight discount to the underlying S&P/ASX
200 index close. The benchmark slipped 5.7 points on
Tuesday to 5,400.67.
    * New Zealand's benchmark NZX 50 index was little
changed at 5,194.7 in early trade, up just 1 point.
    * U.S. stocks rose on Tuesday as investors shrugged off the
turmoil in Iraq and focused on data pointing to higher
inflation. 
    * Brent oil held steady above $113 per barrel and U.S. crude
weakened slightly on Tuesday as fears over oil supply
disruptions from Iraq offset the possibility of increased supply
due to a thawing of relations between Iran and the West.
    * Newcrest Mining said it has reached a settlement
with regulators over an investigation into whether it breached
continuous disclosure obligations ahead of a company
announcement last year.
    
                                                                                       
 ----------------------MARKET SNAPSHOT @ 2326 GMT ------------
                     INSTRUMENT   LAST       PCT CHG   NET CHG
 S&P 500                          1941.99      0.22%     4.210
 USD/JPY                          102.16       0.02%     0.020
 10-YR US TSY YLD                 2.6532          --      #N/A
 SPOT GOLD                        1269.75     -0.11%    -1.440
 US CRUDE                         106.56       0.19%     0.200
 DOW JONES                        16808.49     0.16%     27.48
 ASIA ADRS                        147.64       0.01%      0.02
 -------------------------------------------------------------                         
 
      
  * Banks lead Wall Street higher; cyclicals rally          
  * Oil above $113 asIraq fears offset Iran-west links     
  * Gold slips, focus on Fed as Iraq driven rally cools   
  
    
    For a digest of the day's business stories in Australian 
newspapers, double click on    


 (Reporting by Pauline Askin; Editing by Richard Pullin)
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