February 23, 2014 / 9:36 PM / in 4 years

Australia shares likely to pause after rally

SYDNEY, Feb 24 (Reuters) - Australian stocks are likely to
open slightly lower on Monday, taking a breather after the
recent rally spurred by solid earnings, with investors digesting
mixed messages about the world's economic growth.

    * Local stock index futures slipped 1 point to
5,413.0, a 25.7-point discount to the underlying S&P/ASX 200
index. The benchmark rose 0.5 percent on Friday.
    * New Zealand's benchmark NZX 50 index was flat at
4,929.0 in early trade.
    * U.S. stocks slipped on Friday on options-related trading,
with the S&P 500 facing resistance as it flirts with its record
high even as economic data continues to underwhelm.
    * Copper held steady on Friday, with an uncertain outlook
for demand keeping prices in a narrow range after mixed messages
about China's economic health.
    * The world's top economies have embraced a goal of
generating more than $2 trillion in additional output over five
years while creating tens of millions of new jobs, signalling
optimism that the worst of crisis-era austerity was behind
    * South Korea's Samsung C&T Corp has annulled a
mining contract with a consortium that includes Spain's Duro
Felguera and Australia's Forge Construction
    * The world's top economies agreed on Sunday to develop
stricter rules on cross-border taxation to close loopholes that
have allowed multinationals such as Starbucks Corp,
Google Inc, Apple Inc and Amazon.com Inc
 to avoid paying taxes. 
    * Caltex Australia Ltd will release 2013 full-year
results on Monday, and Bluescope Steel Ltd will report
its first-half results.
----------------------MARKET SNAPSHOT @ 2118 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1836.25     -0.19%    -3.530
USD/JPY                   102.43       0.26%     0.270
10-YR US TSY YLD     2.7337          --     0.000
SPOT GOLD                 1325.18      0.00%     0.000
US CRUDE                  102.20      -0.54%    -0.550
DOW JONES                 16103.30    -0.19%    -29.93
ASIA ADRS                144.00       0.11%      0.16

  * Wall St dips with S&P 500's record high in sight       
  * Oil falls as warmer U.S. weather curbs demand         
  * Gold posts third straight weekly gain on U.S. economic
  * Copper steady; mixed China data clouds outlook for demand   
    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 

 (Reporting by Maggie Lu Yueyang; Editing by Jan Paschal)

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