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Australia shares seen steady, copper prices may weigh
July 13, 2014 / 11:16 PM / 3 years ago

Australia shares seen steady, copper prices may weigh

SYDNEY, July 14 - Australian shares are set for a steady
start on Monday as concerns eased about the health of Portugal's
largest bank and investors await more earnings results, although
falling copper prices may hurt resource stocks.
    
    * The local stock index futures edged up 0.2
percent to 5,466.0, a 20.8 point discount to the underlying
S&P/ASX 200 index, which closed 0.4 percent higher on
Friday.
    * New Zealand's benchmark NZX 50 index .NZ50 slipped 0.5
percent or 27.4 points to 5,100.6.
    * U.S. stocks rose on Friday, but the S&P 500 posted its
biggest weekly drop since April as investors showed only mild
enthusiasm after getting their first glimpses of earnings.
    * Copper dipped on Friday as investors eyed rising warehouse
stocks and reassessed whether the metal, already trading near
4-1/2 month highs, was likely to extend gains.
    * Aditya Birla Minerals announces resumption of
mining activities at Birla Nifty. 
    * Aurizon Holdings announces restructuring of
Aquila board. 
    * Vocus Communications says renews contract with
Vodafone New Zealand. 
    Envestra declares final dividend for FY14.
 
    * The lower house of Australia's parliament is set to vote
on a new bill to repeal the country's controversial carbon tax.
    
----------------------MARKET SNAPSHOT @ 2251 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1967.57      0.15%     2.890
USD/JPY                   101.35      -0.01%    -0.010
10-YR US TSY YLD     2.516           --      #N/A
SPOT GOLD                 1338.6       0.02%     0.280
US CRUDE                  100.81      -0.02%    -0.020
DOW JONES                 16943.81     0.17%     28.74
ASIA ADRS                150.01       0.17%      0.26
-------------------------------------------------------------   
                                                        

        
  * Wall St edges up; indexes post losses for week          
  * Brent falls on easing geopolitical risk                
  * Gold for day, up for 6th week on middle east tension  
  * Copper eases on rising investory levels              
    
    For a digest of the day's business stories in Australian 
newspapers, double click on    
        

 (Reporting by Swati Pandey; Editing by Stephen Coates)

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