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Australia shares seen treading limited range
June 5, 2012 / 11:48 PM / 6 years ago

Australia shares seen treading limited range

MELBOURNE, June 6 (Reuters) - Australia’s benchmark share index may consolidate around the 4,050 level on Wednesday in cautious trade as investors wait to see if there is any sign of fiscal stimulus from top central banks to reinvigorate the global economy.

* The European Central Bank meets later on Wednesday and

Federal Reserve Chairman Ben Bernanke is due to testify before a congressional panel on Thursday.

* Local share price index futures rose 7 points or 0.2 percent to 4,061, a 17.3-point premium to the underlying S&P/ASX 200 index.

* The benchmark gained 58.7 points to 4,043.7 on Tuesday, clawing its way back from a six-month low close on Monday.

* New Zealand’s benchmark NZX 50 index rose 0.3 percent to 3,429.99 in early trade.

* U.S. stocks recovered some ground from last week’s sell-off, as data showed the vast U.S. services sector improved in May. Financial stocks ranked among the best performers.

* Copper prices in New York fell for a fifth straight day after a series of declining business surveys across Europe underscored a bleaker outlook for industrial metal demand.

* Gold prices edged lower in light volume as investors shift attention to central bank meetings scheduled later this month.

* First-quarter GDP figures will be released on Wednesday. The report is likely to highlight the continuing divide between the booming mining sector and struggling non-resources industries.

* BHP Billiton CEO Marius kloppers addresses a corporate business leadership gathering in Perth. ----------------------MARKET SNAPSHOT @ 2313 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG S&P 500 1285.5 0.57% 7.320 USD/JPY 78.72 -0% 0.000 10-YR US TSY YLD 1.5727 -- 0.000 SPOT GOLD 1618.09 0.05% 0.840 US CRUDE 84.17 -0.14% -0.120 DOW JONES 12127.95 0.22% 26.49 ASIA ADRS 110.12 1.04% 1.13 -------------------------------------------------------------

* Wall St rebounds but mood still sour * Brent little changed, U.S. crude posts gain * Gold eases, focus shifting to key economic events * NY copper slips as euro zone PMIs spur growth fear

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 Editing by Richard Pullin

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