Reuters logo
Australia shares seen ticking up on China growth bets
August 4, 2014 / 10:36 PM / 3 years ago

Australia shares seen ticking up on China growth bets

MELBOURNE, Aug 5 (Reuters) - Australian shares are set to
open slightly higher on Tuesday, with mining stocks likely to
rise on hopes of improving growth in China, the world's biggest
metals consumer.
    
    * Local share price index futures rose 0.1 percent
to 5,488.0, but that was a 52.9-point discount to the underlying
S&P/ASX 200 index. The benchmark fell 0.3 percent on
Monday.
    * New Zealand's benchmark NZX 50 index inched up 1.4
points to 5,092.08 in early trade.
    * U.S. stocks closed higher on Monday, lifted in a late
rally driven by earnings from Warren Buffett's Berkshire
Hathaway and broad gains across most sectors that helped the S&P
500 index rebound from its largest weekly drop since
2012.
    * Copper rose as a rally in China's stock markets indicated
improving prospects for demand in the world's largest consumer
of the industrial metal, although growing global supplies kept
investors cautious.
    * Bionic ear implant maker Cochlear Ltd and
Australia's biggest toll-road operator, Transurban Group
, will be in the frame on Tuesday as they report annual
results.

-------------------- MARKET SNAPSHOT @ 2224 GMT ----------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1,938.99     0.72    13.840
USD/JPY                   102.56      -0.02    -0.020
10-YR US TSY YLD     2.4853         --     0.000
SPOT GOLD                 1,287.91    -0.01    -0.130
US CRUDE                  98.52        0.23     0.230
DOW JONES                 16,569.28    0.46    75.91
ASIA ADRS                152.90       0.68     1.03
----------------------------------------------------------------
    
  * Late surge lifts Wall St, utilities sag                 
  * Oil rebounds as global tensions raise supply fears     
  * Gold drops on S&P gains, Portuguese bank deal         
  * Copper rises on China demand prospects               
    
    For a digest of the day's business stories in Australian 
newspapers, double-click: 

 (Reporting by Sonali Paul, editing by G Crosse)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below