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Australia shares seen slipping on Wall St losses, profit taking
April 13, 2014 / 10:51 PM / 4 years ago

Australia shares seen slipping on Wall St losses, profit taking

SYDNEY, April 14 (Reuters) - Australian shares are set to
slip on Monday, tracking losses on Wall Street with accelerated
selling in biotech stocks and with investors set to lock in some
profits from the recent rally, as the market cautiously watches
for retail sales data out of the United States.
    
    * Local share price index futures fell 0.3 percent
to 5,406, a 22.6-point discount to the underlying S&P/ASX 200
index close. The benchmark lost 1 percent to 5,428.6 on
Friday.
    * New Zealand's benchmark NZX 50 index fell 0.5
percent to 5,068.3 in early trade.
    * U.S. stocks slid in a volatile session on Friday, with the
Nasdaq closing below the 4,000 mark for the first time since
early February.
    * Nickel hit a 13-month high on Friday as Indonesia's ban on
ore exports kept market supplies tight, though risks are rising
that lofty prices will encourage buyers to look for cheaper
sources of supply. 
    * Glencore Xstrata has sold its interest in the Las
Bambas copper mine in Peru to a Chinese consortium led by MMG
Ltd in a $6 billion cash deal, making it one of
China's largest mining acquisitions in recent years.
 
    * Astron Ltd said its subsidiary Donald Mineral
Sands Pty Ltd has entered into a framework agreement with the
China Machinery Engineering Corporation. 
    
    
----------------------MARKET SNAPSHOT @ 2240 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1815.69     -0.95%   -17.390
USD/JPY                   101.46      -0.13%    -0.130
10-YR US TSY YLD     2.6283          --     0.000
SPOT GOLD                 1326.31      0.65%     8.610
US CRUDE                  103.97       0.22%     0.230
DOW JONES                 16026.75    -0.89%   -143.47
ASIA ADRS                140.22      -0.02%     -0.03
-------------------------------------------------------------   
                                                        

        
  * Nasdaq ends below 4,000 for first time since Feb.       
  * U.S. crude nears 6-week high as consumer confidence supports
                                                 
  * Palladim jumps to 2011 highs after early buying burst 
  * Nickel at 13-month high, eyes best week since Feb 2013      
                                  
    
    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)

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