April 28, 2014 / 11:01 PM / 4 years ago

Australia shares seen rising, though miners under pressure

MELBOURNE, April 29 (Reuters) - Australian shares are set to
open higher on Tuesday, testing six-year highs on optimism about
U.S. growth after March housing numbers beat forecasts, but the
top miners may cap gains after iron ore prices slid.
    * Share price index futures rose 0.4 percent to
5,554.0, a 17.9-point premium to the underlying S&P/ASX 200
index. The benchmark inched up 0.1 percent on Monday.
    * New Zealand's benchmark NZX 50 index ticked up 0.1
percent to 5,123.09 in early trade.
    * On Wall Street, the S&P 500 ended higher on Monday after a
volatile session, as gains in Apple and Pfizer 
helped offset another round of selling in some high-growth tech
    * Iron ore prices .IO62-CNI=SI dropped to a seven-week low
below $110 a tonne, while nickel, copper and gold prices eased.
Nickel retreated as worries abated about the severity of U.S.
sanctions against Russia, the world no.2 nickel producer. 
    * Shares in Papua New Guinea oil and gas producer Oil Search
Ltd may climb after its partner ExxonMobil Corp 
announced exports from its PNG LNG (liquefied natural gas)
project are due to start in a few weeks, about two months
earlier than the market had expected.
    * Supermarkets-to-coal conglomerate Wesfarmers Ltd 
is due to report its third-quarter sales on Tuesday.
    * Whitehaven Coal, which last week cut its
production guidance for the 2014 financial year, is due to
report its third-quarter production.
    * Rail and ports operator Asciano Ltd is set to
report quarterly volume results ahead of the market opening.
    * Indophil Resources is due to update the market on
plans for its long-delayed Tampakan copper project in the
Philippines in a quarterly report. 
----------------------MARKET SNAPSHOT @ 2236 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1869.43      0.32%     6.030
USD/JPY                   102.5        0.02%     0.020
10-YR US TSY YLD     2.7077          --     0.000
SPOT GOLD                 1296.11      0.04%     0.510
US CRUDE                  100.85       0.01%     0.010
DOW JONES                 16448.74     0.53%     87.28
ASIA ADRS                140.10      -0.07%     -0.10

  * S&P 500, Dow end up after late rebound                  
  * Brent crude tumbles as Libya exports rise              
  * Gold slides below $1,300 after strong US housing data 
  * Nickel slips on "mild" Russia sanctions              
    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 Sonali Paul; Editing by Jan Paschal)
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