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Australia shares seen steady, hopeful on U.S. meeting
December 27, 2012 / 10:06 PM / 5 years ago

Australia shares seen steady, hopeful on U.S. meeting

SYDNEY, Dec 28 (Reuters) - Australian shares are likely to
open steady in thin trade on Friday, supported by rising iron
ore prices and news the U.S. House of Representatives will meet
on Sunday in a last-minute bid to avert the 'fiscal cliff'.
    * Local share price index futures rose 9 points to
4,637, an 11-point discount to the underlying S&P/ASX 200 index
 close. The benchmark rose 0.3 percent on Thursday and is
on track to post gains of 14.6 percent for the year.
    * Local miners will remain supported by robust gains in spot
iron ore prices, which have climbed to eight-month highs at
$139.40 .IO62-CNI=SI. 
    * New Zealand's benchmark NZX 50 index rose 4 points
to 4,061.5 in early trade.
    * U.S. stocks closed lower on Thursday but recovered most of
the session's losses on news the House of Representatives would
meet on Sunday for further talks aimed at avoiding the 'fiscal
cliff'.
    * Copper rose to a one-week high as encouraging data from
China reinforced signs of a recovery in the economy of the
world's top metals consumer.

                                                                                                                                           
 ----------------------MARKET SNAPSHOT @ 2126 GMT ------------
                     INSTRUMENT   LAST       PCT CHG   NET CHG
 S&P 500                          1418.09     -0.12%    -1.740
 USD/JPY                          86.07        0.53%     0.450
 10-YR US TSY YLD                 1.732           --    -0.017
 SPOT GOLD                        1663.56      0.25%     4.070
 US CRUDE                         91.02        0.04%     0.040
 DOW JONES                        13096.31    -0.14%    -18.28
 ASIA ADRS                        130.67       0.28%      0.37
 -------------------------------------------------------------                                                            
        
  * Wall St briefly turns higher in late trading          
  * Oil eases as U.S. budget uncertainty drags on        
  * Gold eases, focus on U.S. budget talks              
  * Copper up as data signals China growth acceleration 
    
    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 Pauline Askin; Editing by Victoria Thieberger)

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