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Australia shares seen steady on caution over Greece, U.S.
November 26, 2012 / 9:51 PM / in 5 years

Australia shares seen steady on caution over Greece, U.S.

CANBERRA, Nov 27 (Reuters) - Australian shares look ready for consolidation on Tuesday, with investors waiting for developments in the latest round of Greek aid talks and U.S. budget discussions before making major portfolio decisions.

* Local stock index futures inched up 0.1 percent, or 5 points, to 4,437.0, a 12.8-point premium to the underlying S&P/ASX 200 index. The benchmark added 0.3 percent on Monday.

* New Zealand’s benchmark NZX 50 index rose 0.2 percent to 4,018.7 in early trade.

* The Dow and S&P 500 ended lower on Monday as retailers fell on concerns about heavy discounts at the start of the U.S. holiday shopping season and the overhang of the “fiscal cliff” kept investors wary of making big bets.

* Copper steadied after a two-week rally, as investors awaited the outcome of talks on providing emergency loans to keep Greece afloat, although signs of economic recovery in China kept a floor under prices of the metal.

* Bendigo and Adelaide Bank Ltd is buying regional financial company Southern Finance Group for A$290 million. ----------------------MARKET SNAPSHOT @ 2128 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG S&P 500 1406.29 -0.2% -2.860 USD/JPY 82.01 -0.49% -0.400 10-YR US TSY YLD 1.666 -- -0.027 SPOT GOLD 1748.54 -0.22% -3.850 US CRUDE 87.78 -0.57% -0.500 DOW JONES 12967.37 -0.33% -42.31 ASIA ADRS 122.13 -0.23% -0.28 -------------------------------------------------------------

* Dow, S&P 500 end down with retailers * Oil falls on concerns about Greece debt, U.S. budget * Gold eases, pressured by Greek worry, weak equities * Copper steady as investors await Greek debt deal

For a digest of the day’s business stories in Australian newspapers, double click on (Reporting By Maggie Lu Yueyang; Editing by John Mair)

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