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Australia shares seen in tight range, investors eye U.S. Fed
July 29, 2014 / 11:21 PM / 3 years ago

Australia shares seen in tight range, investors eye U.S. Fed

SYDNEY, July 30 (Reuters) - Australian shares are seen
opening flat as investors eye the end of the U.S. Federal
Reserve's two-day policy meeting, although weaker metals prices
may pull resources stocks lower. 
    
    * Local share price index futures ended flat at a
50.4-point discount to the underlying S&P/ASX 200 index 
close. The benchmark added 0.6 percent to a 6-year closing high
on Tuesday. 
    * New Zealand's benchmark NZX 50 index dipped 0.1
percent in early trade.
    * U.S. stocks fell on Tuesday, dropping in a broad selloff
as a weak outlook from courier company UPS weighed on sentiment
and pressured transport stocks. 
    * Copper prices slipped as prospects of growing supplies
overshadowed encouraging signs of health in the global economy,
and zinc retreated after hovering near three-year highs on
expectations of a tightening market. 
    * Gold dropped as investors nervously awaited the end of
U.S. Federal Reserve's two-day policy meeting to see if the
central bank will raise interest rates faster than expected. 
    * Brambles Ltd said Graham Kraehe will retire as 
chairman, and will be replaced by Stephen Johns. 
    * Genworth Mortgage Insurance Australia Ltd posted
a 41 percent rise in first-half net profit. The home loan
insurer also declared a fully franked interim dividend of
A$0.028 per share. 
    * Tabcorp Holdings Ltd said it has reached an
agreement with the ACT Government to acquire ACTTAB for A$105.5
million. 
    
        
  * Wall St ends down; Twitter rallies after-hours          
  * Brent oil firm on new Russia sanctions; U.S. slips on
refinery 
  * Gold drops as market waits for Fed's rate view        
  * Copper weighed by rising output, economic data
awaited 
    
    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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