October 28, 2013 / 9:43 PM / 4 years ago

Australia shares seen climbing on bank earnings hopes

MELBOURNE, Oct 29 (Reuters) - Australian shares are set to
open a touch higher on Tuesday after Australia and New Zealand
Banking Group kicked off bank reporting season by just
beating market forecasts for its cash profit.
    * Local share price index futures inched up 0.1
percent to 5,434.0, a 7.4-point discount to the underlying
S&P/ASX 200 index close. The benchmark jumped 1 percent
on Monday to touch a new five-year high.
    * New Zealand's benchmark NZX 50 index picked up 3.5
points to 4,866.9 in early trade.
    * On Wall Street, the benchmark S&P 500 index closed at
another record high on Monday as expectations were high that the
U.S. Federal Reserve will keep its stimulus in place when it
meets this week.
    * Aluminium touched the highest level in two months on
Monday as traders said investors were betting that the London
Metal Exchange (LME) would make changes to warehouse rules that
would boost the price of the metal. Gold reached fresh five-week
highs and copper was steady.
    * Australia and New Zealand Banking Group, the
country's no.3 bank by market value, reported an 11 percent rise
in full year cash profit to A$6.5 billion, slightly more than
analysts' forecasts around A$6.4 billion. 

------------------- MARKET SNAPSHOT @ 2133 GMT -----------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1,762.11     0.13%     2.340
USD/JPY                   97.66        0.01%     0.010
10-YR US TSY YLD     2.5233          --     0.020
SPOT GOLD                 1,352.14    -0.01%    -0.140
US CRUDE                  98.68        0.85%     0.830
DOW JONES                 15,568.93   -0.01%    -1.35
ASIA ADRS                149.39      -0.05%    -0.08
 * S&P 500 ends at record on Fed hopes, Dow, Nasdaq flat   
 * Brent gains on lower Libyan supply                     
 * Gold gains as investors bet on continued Fed stimulus 
 * Aluminium hits 2-month high as new LME rules expected 
    For a digest of the day's business stories in Australian 
newspapers, double-click on 

 (Editing by G Crosse)

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