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Australia shares seen steadying on Wall St, firmer metal prices
June 25, 2014 / 11:16 PM / in 3 years

Australia shares seen steadying on Wall St, firmer metal prices

SYDNEY, June 26 (Reuters) - Australian shares are set to open with a positive tone on Thursday after Wall Street rose overnight and metal prices ticked higher, although continuing unrest in Iraq may keep investors wary.

* Local share price index futures edged 0.1 percent higher, but were at a 42-point discount to the underlying S&P/ASX 200 index close. The benchmark slipped 0.6 percent on Wednesday, easing for a second day in a row.

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

* U.S. stocks rose overnight, led by drug makers, while a Supreme Court ruling lifted shares of major broadcasters.

* Millitants attacked one of Iraq’s largest air bases and seized control of several small oilfields as U.S. special forces troops and intelligence analysts arrived to help Iraqi security forces counter a mounting Sunni insurgency.

* Copper rebounded to a three-week high on Wednesday as the market brushed aside weak U.S. economic growth data and refocuses on falling global inventories. Gold rose slightly.

* Dick Smith Holdings Ltd and Vodafone have entered a long-term partnership to offer postpaid products and services.

* Stockland Corporation Ltd says it has established a new strategic partnership with Opal Aged Care with a sale of four aged care facilities to Opal for A$25.6 million.

----------------------MARKET SNAPSHOT @ 2301 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG S&P 500 1959.53 0.49% 9.550 USD/JPY 101.8 -0.06% -0.060 10-YR US TSY YLD 2.561 -- #N/A SPOT GOLD 1318.04 -0.07% -0.960 US CRUDE 106.79 0.27% 0.290 DOW JONES 16867.51 0.29% 49.38 ASIA ADRS 148.94 0.38% 0.56 -------------------------------------------------------------

* Wall St gains after supreme court ruling on broadcasters * U.S. oil up on condensate export approval, Brent falls * Gold rises after data shows U.S. economy shrinks in Q1 * Copper rebounds to 3-week high, shuns weak U.S. data

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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