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Australia shares seen opening up on Fed comments
February 24, 2013 / 10:17 PM / in 5 years

Australia shares seen opening up on Fed comments

SYDNEY, Feb 25 (Reuters) - Australian shares are set to inch
up on Monday after reassuring comments from U.S. Federal Reserve
officials that the central bank will maintain policy stimulus
for the world's largest economy, although weaker metal prices
will cap the gains. 
    * Local share price index futures rose 0.4 percent
to 5,014, a 4.1-point discount to the underlying S&P/ASX 200
index. The benchmark rose 0.8 percent on Friday, but
still lost 0.3 percent over the week. 
    * New Zealand's benchmark NZX 50 index rose 0.4
percent to 4,232.7 in early trade.
    * U.S. stocks rose on Friday as Dow component
Hewlett-Packard surged on strong results and on the reduced
concerns that the central bank would curtail its stimulus
    * Copper slipped to a two-month low on Friday, posting its
biggest weekly loss in 14 months on concerns about the global
economy and the demand for industrial metals.
    * Australia's troubled third-ranked television station, Ten
Network Holdings, sacked its chief executive late on
Friday, just a year after it poached him from rival operator
Seven West Media Ltd. 
----------------------MARKET SNAPSHOT @ 2151 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1515.6       0.88%    13.180
USD/JPY                   94.59         1.3%     1.210
10-YR US TSY YLD     1.9618          --     0.000
SPOT GOLD                 1580.9       0.00%     0.000
US CRUDE                  93.13        0.31%     0.290
DOW JONES                 14000.57     0.86%    119.95
ASIA ADRS                136.49       1.50%      2.02
  * Wall St rebounds on HP results, Fed officials' views   
  * Oil slightly higher for day, down for the week        
  * Gold posts second weekly loss on economic hopes      
  * Copper hits 2-mth low on global economy concerns    
    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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