October 14, 2013 / 10:21 PM / 4 years ago

Australia shares seen climbing on U.S. debt deal hopes

3 Min Read

MELBOURNE, Oct 15 (Reuters) - Australian shares were set to
open higher on Tuesday on signs the White House and U.S.
lawmakers may be nearing a budget and debt deal, after weeks of
wrangling that threatened to damage the global economy.
    
    * Local share price index futures rose 0.8 percent
to 5,250.0, a 42.1-point premium to the underlying S&P/ASX 200
index close. The benchmark fell 0.4 percent on Monday.
    * New Zealand's benchmark NZX 50 index was flat at
4,635.1 in early trade.
    * U.S. stocks ended a volatile session with modest gains on
Monday, as investors bet that there would soon be a deal in
Washington to increase the debt limit, though there were no
obvious signs of progress.
    * Copper rose on Monday as strong imports from top consumer
China boosted optimism about the outlook for demand, but further
gains were capped by concerns about the fiscal impasse in the
United States.
    * U.S. senators said they were closing in on a deal Monday
that would reopen the government and push back a possible
default for several months, though many hurdles remained as a
Thursday deadline drew near. 
    * Global miner Rio Tinto  reports its third
quarter production on Tuesday, with analysts expecting a 3
percent rise in iron ore output from the previous quarter to 53
million tonnes.
    * Top telecomms company Telstra Corp Ltd and bionic
ear maker Cochlear Ltd hold their annual meetings on
Tuesday.
    
    
----------------------MARKET SNAPSHOT @ 2142 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1710.14      0.41%     6.940
USD/JPY                   98.63        0.07%     0.070
10-YR US TSY YLD     2.6908          --     0.000
SPOT GOLD                 1272.69      0.01%     0.070
US CRUDE                  102.41       0.38%     0.390
DOW JONES                 15301.26     0.42%     64.15
ASIA ADRS                149.81       0.09%      0.13
-------------------------------------------------------------   
                                                        
        
  * Wall St rises on hopes for a budget deal                
  * U.S. oil ends with moderate gains on budget deal hopes 
  * Gold rises from 30-month low, U.S. budget impasse eyed 
  * Copper rises on China imports, U.S. worry caps gains 
    
    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 
4234)
        

 (Sonali Paul)

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