Australia shares seen higher on surge in U.S. jobs growth

Thu Jul 3, 2014 7:16pm EDT

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SYDNEY, July 4 (Reuters) - Australian shares are set to
extend gains on Friday after Wall Street notched up more records
on stronger than expected U.S. jobs data, driving the Dow over
17,000 for the first time.
    The mood was buoyant in global markets with a key volatility
measure, the VIX index, falling to 10.32 - its lowest
since 28 February 2007, suggesting further upside for riskier
assets on the day.   
    * Local share price index futures jumped 27 points
or 0.5 percent to 5,480, an 11.2-point discount to the
underlying S&P/ASX 200 index close. The benchmark gained
35 points or 0.66 percent on Thursday to close at 5,491.2.
    * New Zealand's benchmark NZX 50 index fell 4.87
points to 5,162.5 in early trade.
    * U.S. stocks ended with multiple records at close on
Thursday, with the Dow topping 17,000 for the first time on a
much stronger-than-expected June jobs report.
    * The U.S. economy added 288,000 jobs in June, racing past
the 212,000 that economists had expected. The U.S. unemployment
rate fell to 6.1 percent, the lowest since September 2008,
confirming expectations that the economy bounced back in the
second quarter after a dismal start to the year. 
    * Gold slipped after the robust payrolls data fueled
expectations U.S. interest rates could rise earlier than
    * Australian salary packaging company Smartgroup has its
sharemarket debut after aiming to raise A$112.7 million by
selling a 68 percent stake in the company 
    * Luci Ellis, RBA's  head of financial stability dept will
speak at the 2014 Economic and Social Outlook Conference in
 ----------------------MARKET SNAPSHOT @ 2234 GMT ------------
                     INSTRUMENT   LAST       PCT CHG   NET CHG
 S&P 500                          1985.44      0.55%    10.820
 USD/JPY                          102.2        0.02%     0.020
 10-YR US TSY YLD                 2.6411          --      #N/A
 SPOT GOLD                        1319.41     -0.01%    -0.080
 US CRUDE                         104.07       0.01%     0.010
 DOW JONES                        17068.26     0.54%     92.02
 ASIA ADRS                        153.11       0.26%      0.40
  * Dow pops above 17,000, S&P500 at record as job jump     
  * Oil dips on easing supply concerns; China data supports 
  * Gold slips after upbeat U.S. nonfarm payrolls         
  * Copper hit 4-month high                              
    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 

 (Reporting by Pauline Askin; Editing by Shri Navaratnam)

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.