Australia shares seen edging up from 1-month highs, metals firm

SYDNEY, July 7 Sun Jul 6, 2014 7:21pm EDT

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SYDNEY, July 7 (Reuters) - Australian shares are set to edge up from one-month highs on Monday, buoyed by a rise among metals prices, although trade may be quiet as Wall Street was closed for the Independence Day holiday.

* Local share price index futures added 0.2 percent, but were at a 30-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.6 percent to one-month highs on Friday and added 1.5 percent for the week, its biggest one-week gain since late February.

* New Zealand's benchmark NZX 50 index slipped 0.4 percent in early trade.

* Wall Street was closed on Friday for the Independence Day holiday.

* Copper prices slipped on Friday but still posted their biggest weekly rise in more than nine months, having earlier hit a four-month peak as U.S. jobs data boosted the demand outlook for industrial metals. Gold edged higher.

* Iron ore for immediate delivery to China .IO62-CNI=SI climbed to $96.50 a tonne, its highest since May 28.

* A monthly jobs advertisement report from Australia and New Zealand Banking Group and a monthly survey on construction activity by the Australian Industry Group are both due out later on Monday.

* Six potential bidders are looking at the books of BHP Billiton's Australian nickel unit, the Australian Financial Review reported on Sunday, in an unsourced report.

* Decmil Group Ltd says it has been awarded the Cape Lambert Port B contract worth approximately A$26 million.

----------------------MARKET SNAPSHOT @ 2255 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG S&P 500 1985.44 0.55% 10.820 USD/JPY 102.11 0.01% 0.010 10-YR US TSY YLD 2.6411 -- #N/A SPOT GOLD 1316.76 -0.25% -3.290 US CRUDE 103.79 -0.26% -0.270 DOW JONES 17068.26 0.54% 92.02 ASIA ADRS 153.11 0.26% 0.40 -------------------------------------------------------------

* Wall St was closed on Friday for Independence Day * Oil drops on signs of rising supply; Brent below $111 * Gold steady, seen vulnerable after strong U.S. jobs data * Copper slips but posts biggest weekly gain since Sept

For a digest of the day's business stories in Australian newspapers, double click on (Reporting by Thuy Ong; Editing by Richard Pullin)

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