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Australia shares seen rising on firmer miners, commodities; local earnings eyed
February 9, 2014 / 10:21 PM / 4 years ago

Australia shares seen rising on firmer miners, commodities; local earnings eyed

SYDNEY, Feb 10 (Reuters) - Australian stocks are set to open
higher on Monday with resources stocks likely to underpin gains
following a jump on Wall Street, as investors focused on further
economic strength and local earnings.

    * Local share price index futures rose 0.7 percent
to 5,159.0, a modest 7.5-point discount to the underlying
S&P/ASX 200 index close. The benchmark rose 0.7 percent
on Friday.
    * New Zealand's benchmark NZX 50 index eased 0.1
percent in early trade to 4,834.4.
    * U.S. stocks jumped on Friday, giving the S&P 500 its first
weekly gain in four as the impact of a weak reading on the labor
market was dulled by harsh weather conditions and traders
focused on expectations of further economic strength. 
    * Copper rose on Friday to post its largest weekly rise for
the year, boosted by hopes of a pick-up in demand after the
Chinese New Year and by limited short-term availability of the
metal in the physical market.
    * Gold rose on Friday after data showed U.S. job creation
slowed sharply over the past two months, fueling speculation
that slowing economic momentum will force the Federal Reserve to
keep its current stimulus. 
    * Investors will closely watch for the next two weeks, with
over 65 percent of local listed companies reporting either their
first-half results for fiscal year 2014 or full-year results for
fiscal year 2013.

----------------------MARKET SNAPSHOT @ 2205 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1797.02      1.33%    23.590
USD/JPY                   102.48       0.15%     0.150
10-YR US TSY YLD     2.6875          --     0.000
SPOT GOLD                 1266.65      0.00%     0.000
US CRUDE                  100.09       2.30%     2.250
DOW JONES                 15794.08     1.06%    165.55
ASIA ADRS                140.35       1.37%      1.89
-------------------------------------------------------------   
                                                        

  * Wall St rallies to snap three-week skid                
  * Oil hits one month highs on U.S. cold, tight supply   
  * Gold rises as weak U.S. job data rekindles Fed stimulus hope
                                               
  * Copper lifted by China demand hopes, tight supply   
    
    For a digest of the day's business stories in Australian 
newspapers, double click on    
        
 (Australia/New Zealand bureaux; +61 2 9373 1800/+64 4 471 
4234)
        

 (Reporting by Maggie Lu Yueyang; Editing by Nick Zieminski)

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