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Australia shares seen rising, investors eye local data
March 30, 2014 / 10:26 PM / in 4 years

Australia shares seen rising, investors eye local data

SYDNEY, March 31 (Reuters) - Australian shares are set to open modestly higher on Monday as Wall Street rose on Friday and a recovery in metals prices may buoy the resources sector, however investors may stay at the sidelines ahead of some data due later in the day.

* Local share price index futures rose 0.2 percent, a 1.1-point premium to the underlying S&P/ASX 200 index close. The benchmark rose 0.3 percent on Friday and added 0.5 percent for the week.

* New Zealand’s benchmark NZX 50 index slipped 0.1 percent in early trade.

* U.S. stocks ended up on Friday but off their session highs as a late afternoon selloff in the biotechnology sector weighed on the overall market.

* Copper hit its highest level in 2-1/2 weeks as speculation gathered pace that China could step in to stimulate its economy. Gold turned higher after touching six-week lows under $1,300 an ounce on Friday but marked its second straight weekly decline.

* Suncorp Group Ltd has announced its intention to raise A$250 million to fund capital requirements.

* Australia and New Zealand Banking Group has appointed Paul Cantale as an additional company secretary of ANZ on an interim basis.

* Data including Australia TD-MI monthly inflation guage, new home sales, manufacturing survey and private sector credit will be released later on Monday.

----------------------MARKET SNAPSHOT @ 2217 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG S&P 500 1857.62 0.46% 8.580 USD/JPY 102.87 0.08% 0.080 10-YR US TSY YLD 2.7208 -- 0.000 SPOT GOLD 1295.44 0.15% 1.940 US CRUDE 101.53 -0.14% -0.140 DOW JONES 16323.06 0.36% 58.83 ASIA ADRS 141.19 1.03% 1.44 -------------------------------------------------------------

* Wall St ends higher but biotech selloff weighs * Oil prices edge higher on geopolitical concerns * Gold bounces from 6-week lows, marks second weekly loss * Aluminium up after Alcoa cuts, copper gains on stimulus hopes

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 Thuy Ong; Editing by Diane Craft

Our Standards:The Thomson Reuters Trust Principles.
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