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Australia shares seen rising as U.S. gains, iron ore may cap
August 26, 2014 / 11:26 PM / 3 years ago

Australia shares seen rising as U.S. gains, iron ore may cap

SYDNEY, Aug 27 (Reuters) - Australian shares are seen edging higher on Wednesday after firmer U.S. data pushed the S&P 500 above 2,000 for the first time, with local attention on a raft of earnings results.

* Local share price index futures rose 0.2 percent to 5,605.0, but were at a 32.6-point discount to the underlying S&P/ASX 200 index close. The benchmark eked out a gain of 0.1 percent on Tuesday.

* New Zealand’s benchmark NZX 50 index added 0.2 percent in early trade.

* U.S. stocks edged higher on Tuesday to lift the S&P 500 just a hair above the 2,000 mark, its first close above that milestone, after data that pointed to a brighter future for the economy.

* Spot iron ore prices hit their lowest since September 2012 as swelling supplies weighed, while China’s Dalian iron ore futures rebounded after a six-day slide that dragged the price down to the lowest level since last year’s launch.

* BC Iron Ltd said its full year net profit after tax was A$73.7 million, up 51 percent.

* Flight Centre Travel Group Ltd reported its full year net profit after tax of A$206.9 million versus A$246.1 million last year. The company also said it is investing in UK-based Topdeck tours in a deal that values Topdeck at GBP 21.8 million.

* Boral Ltd said it swung to an annual net profit, but missed estimates, led by a recovery in construction activity and lower losses at its U.S. business.

* Lend Lease Corp Ltd said its annual net profit jumped 50 percent, meeting recently upgraded company forecasts, as it benefited from the sale of its stake in a UK shopping centre.

----------------------MARKET SNAPSHOT @ 2312 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG S&P 500 2000.02 0.11% 2.100 USD/JPY 104.08 0.03% 0.030 10-YR US TSY YLD 2.398 -- 0.000 SPOT GOLD 1280.1 -0.04% -0.540 US CRUDE 93.82 -0.04% -0.040 DOW JONES 17106.70 0.17% 29.83 ASIA ADRS 154.16 0.02% 0.03 -------------------------------------------------------------

* S&P 500 scores first close above 2,000; data helps * U.S. crude rises on supportive data, Brent slips * Gold gains as dollar rally stalls, geopolitical risks buoy * Aluminium hits 18-month peak, metals lifted on EU stimulus hopes

For a digest of the day’s business stories in Australian newspapers, double click on (Reporting by Thuy Ong; Editing by Richard Pullin)

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