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Australia shares seen lingering near 6-week low, await local earnings
January 28, 2014 / 10:12 PM / 4 years ago

Australia shares seen lingering near 6-week low, await local earnings

SYDNEY, Jan 29 (Reuters) - Australian shares are set for a sluggish open on
Wednesday, lingering near a six-week low touched in the previous session, with
investors waiting to see more production and earnings guidance from local
companies.
    
    * Local share price index futures added two points to 5,135.0,
which is still a 40.1-point discount to the underlying S&P/ASX 200 index 
close. The benchmark fell 1.3 percent on Tuesday.
    * New Zealand's benchmark NZX 50 index inched up 0.3 percent to
4,861.7 in early trade.
    * U.S. stocks bounced back on Tuesday after the S&P 500's three-day slide,
helped by Pfizer's upbeat results and as investors turned their focus to the
Federal Reserve's next move on stimulus.
    * Copper hit a seven-week low on Tuesday as buying interest faded ahead of
the Lunar New Year holiday in Asia and as a stronger dollar weighed, though a
steadier tone in emerging markets helped limit the metal's losses.
    * U.S. oil rose nearly $2 on Tuesday, settling at its highest price this
year and narrowing its discount to European Brent crude, as traders expected
data to show supplies were draining from the contract's benchmark delivery
point.
    * Gold miner Evolution Mining Ltd reiterates 2014 full-year
production guidance of 400,000 to 450,000 ounces with cash operating costs in
the range of A$770 to A$820 per ounce. 
    * Iron ore miner Atlas Iron Ltd will report its December quarter
production data.

------------------ MARKET SNAPSHOT @ 2203 GMT ------------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1,792.5      0.61%    10.940
USD/JPY                   102.95          0%     0.000
10-YR US TSY YLD     2.7681          --     0.002
SPOT GOLD                 1,256.29     0.01%     0.080
US CRUDE                  97.22        1.57%     1.500
DOW JONES                 15,928.56    0.57%     90.68
ASIA ADRS                141.52       0.69%      0.97
-------------------------------------------------------------                   
                                        
        
* Wall St rebounds with Pfizer and the Fed; Apple sinks    
* Oil rises nearly $2 to 2014 high on spread trade         
* Gold falls for second day as equities rise; Fed eyed     
* Copper hits 7-wk low on firm dollar, Lunar New Year lull 
    
    For a digest of the day's business stories in Australian 
newspapers, double-click on 

 (Reporting by Maggie Lu Yueyang)

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