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Australia shares seen modestly higher, investors eye data
June 29, 2014 / 11:21 PM / 3 years ago

Australia shares seen modestly higher, investors eye data

SYDNEY, June 30 (Reuters) - Australian shares are seen opening modestly higher on Monday, supported by an uptick on Wall Street and firmer iron ore prices, although investors will keep an eye on data due out later in the day.

* Local share price index futures added 0.1 percent but were at a 21.1-point discount to the underlying S&P/ASX 200 index close. The benchmark slipped 0.4 percent on Friday but added 0.5 percent for the week, its best weekly performance since the end of April.

* Monthly private sector credit data from the Reserve Bank of Australia, monthly home sales from the Housing Industry Association, and a monthly inflation gauge from TD Securities and the Melbourne Institute are due out later on Monday.

* New Zealand’s benchmark NZX 50 index was flat in early trade.

* U.S. stocks ended modestly higher on Friday, led by technology shares, though downbeat second-quarter and full-year forecasts from DuPont Co kept a lid on gains.

* Copper slipped after hitting its highest in 3-1/2 months, spurred by hopes that an improved outlook for the world’s No.2 economy China may strengthen demand just as supply is tightening. Gold prices ended little changed.

* Iron ore posted its biggest weekly increase since August as buying interest gained momentum after a 30 percent fall in prices this year. .IO62-CN=SI

* Recall Holdings Ltd said it will incur a one-off restructuring cost of around $15 million in the period to June 30.

* OceanaGold Corp announced a refinancing of its corporate credit facilities.

* Senex Energy Ltd and Origin Energy Ltd have completed gas farm-in transactions.

----------------------MARKET SNAPSHOT @ 2309 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG S&P 500 1960.96 0.19% 3.740 USD/JPY 101.43 0.07% 0.070 10-YR US TSY YLD 2.5358 -- #N/A SPOT GOLD 1314.94 0.01% 0.170 US CRUDE 105.44 -0.28% -0.300 DOW JONES 16851.84 0.03% 5.71 ASIA ADRS 149.78 0.29% 0.44 -------------------------------------------------------------

* Wall St rises with tech shares; Dupont drags * Oil steadies after big drop on easing supply fears * Gold steady after U.S. consumerconfidence data * Copper edges off 3-1/2 month high hit on China 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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