January 7, 2014 / 10:16 PM / in 4 years

Australia shares seen up on Wall St rebound, firmer metal prices

SYDNEY, Jan 8 (Reuters) - Australian stocks could get a
reprieve on Wednesday following a rebound on Wall Street, with
gains in some base metal prices  likely to help underpin
commodity shares.

    * Local share price index futures rose 0.5 percent
to 5,320, a 3.0-point premium to the underlying S&P/ASX 200
index close. The benchmark fell 0.2 percent on Tuesday
to 5,317.0.
    * New Zealand's benchmark NZX 50 index rose 0.4
percent to 4,778.9 in early trade.
    * U.S. stocks advanced on Tuesday as equities rebounded
after a three-day losing streak to give the S&P 500 its first
positive session of 2014.
    * Copper edged up on Tuesday after hitting two-week lows in
the previous session, helped by upbeat German and U.S. data.
    Gold fell on Tuesday as a stronger dollar and a rebound in
U.S. stock prices prompted investors to take profits in bullion
after five straight sessions of gains.
    * Australian food manufacturer Goodman Fielder said
on Wednesday it will sell its New Zealand meat and pizza
businesses, raising net proceeds of NZ$15 million to NZ$17
million ($12 million-$14 million), which would be used to reduce
net debt.    
  
----------------------MARKET SNAPSHOT @ 2157 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1837.88      0.61%    11.110
USD/JPY                   104.58       0.36%     0.370
10-YR US TSY YLD     2.9391          --    -0.022
SPOT GOLD                 1231.75      0.02%     0.260
US CRUDE                  93.92        0.52%     0.490
DOW JONES                 16530.94     0.64%    105.84
ASIA ADRS                146.85       0.16%      0.23
-------------------------------------------------------------   
                                                       
  
  * Wall St gains; S&P's 1st positive day in 2014          
  * Oil tops $107 on Libya; U.S. refinery glitches support 
  * Gold drops after 5-day rally, hit by strong equities, dollar
                                                  
  * Copper edges up positive U.S., German data          
    
    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 Maggie Lu Yueyang; Editing by Peter Galloway)
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