May 5, 2014 / 11:26 PM / 3 years ago

Australia shares seen up on U.S. gains, firmer metal prices

Australian shares are set to edge up on Tuesday, led by modest gains on on Wall Street and firmer copper and iron ore prices, while investors await trade data and a central bank decision on interest rates.

* Local share price index futures rose 0.2 percent to 5,465.0, a 2.8-point premium to the underlying S&P/ASX 200 index close. The benchmark eked out a slim 0.1 percent rise on Monday.

* New Zealand's benchmark NZX 50 index slipped 0.3 percent to 5,183.0 in early trade.

* U.S. stocks ended slightly higher as data showed strength in the services sector and Apple shares rose above $600 for the first time since late 2012

* Shanghai copper edged up on Monday to near its highest in two months, supported by steady local demand as markets returned from a two-day holiday and tracking gains in London copper prices that climbed on hopes of the U.S. economy gaining speed.

* Chinese iron ore and steel futures rose on Monday after a steep sell-off last week, but concerns about swollen raw material iron ore stocks in ports, tight credit and a weak outlook for steel product demand kept investors on edge.

* Australia's central bank is almost certain to maintain a neutral policy bias this week with a batch of data likely to point to an economy that is picking up speed, uncomfortable reading for a government preparing voters for a tough federal budget.

* Australian department store David Jones Ltd said on Tuesday its third-quarter sales rose 4.1 percent to A$407.2 million, with comparable sales up 2.4 percent.

* Rare earth producer Lynas Corp Ltd said it would undertake a fully underwritten share purchase plan to raise a minimum of A$30 million together with a placement to raise up to A$10 million.

* Chinese jobs website operator Zhaopin Ltd, controlled by Australia's SEEK Ltd, filed with U.S. regulators to raise up to $100 million in an initial public offering of American depositary shares.

* Bendigo and Adelaide Bank Ltd has completed a capital raising of A$230 million at a price of A$10.85 per share, which would be used to fund the acquisition of Rural Finance Corporation of Victoria.

* Investors will also watch for Australia's trade balance for March.

-----------------MARKET SNAPSHOT @ 23:11 GMT ------------------

INSTRUMENT LAST PCT CHG NET CHG S&P 500 1,884.66 0.19% 3.520 USD/JPY 102.13 0% 0.000 10-YR US TSY YLD 2.606 -- 0.000 SPOT GOLD $1,309.79 0.02% 0.290 US CRUDE $99.42 -0.06% -0.060 DOW JONES 16530.55 0.11% 17.66 ASIA ADRS 141.94 -0.28% -0.41 ------------------------------------------------------------- * Wall St ends up as ISM data upbeat; Apple above $600 * Brent down over $1 on China worries; gasoline prices drop

* Gold reaches 3-week high on rising Ukraine tensions * Shanghai copper edges up to near 2-month top after holiday

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)

Reporting by Maggie Lu Yueyang; Editing by Richard Pullin

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