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Australian shares seen higher on Wall St rally, Fed relief
September 18, 2014 / 11:27 PM / 3 years ago

Australian shares seen higher on Wall St rally, Fed relief

Australian shares are likely to open higher on Friday, steered
by a strong finish on Wall street on investor relief the Federal
Reserve will retain its ultra-low interest rates for a
'considerable time'.
    * Local share price index futures rose 27 points to
5,430.0, a 14.2-point premium to the underlying S&P/ASX 200
index close. The benchmark rose 8.6 points to 5,415.8 at
close on Thursday.
    * New Zealand's benchmark NZX 50 index rose
13.9-points to 5,168.2 in early trade.
    * U.S. stocks rose after the Federal Reserve kept intact its
pledge to keep interest rates low for a 'considerable time',
providing a backstop for investors that helped lift the Dow and
S&P to record highs.
    * Copper and other base metals slipped, pressured by renewed
weakness in China's property market and a sharp rise in the
dollar.
    
                                                               
 ----------------------MARKET SNAPSHOT @ 2317 GMT ------------
                     INSTRUMENT   LAST       PCT CHG   NET CHG
 S&P 500                          2011.36      0.49%     9.790
 USD/JPY                          108.75       0.06%     0.060
 10-YR US TSY YLD                 2.618           --     0.000
 SPOT GOLD                        1225.27      0.01%     0.080
 US CRUDE                         93.08        0.01%     0.010
 DOW JONES                        17265.99     0.64%    109.14
 ASIA ADRS                        152.22       0.93%      1.40
 ------------------------------------------------------------- 
 
           
  * Dow, S&P 500 at records as Fed-driven rally continues   
  * Oil falls on supply glut and strong dollar             
  * Gold bounces off 8-1/2-month low on fed short covering 
  * Base metals slip as Fed rates outlook boosts dollar  
    
    For a digest of the day's business stories in Australian 
newspapers, double click on    
        

 (Reporting by Pauline Askin; Editing by xxx)

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