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Australia shares seen inching up in holiday-thinned trade
October 6, 2013 / 10:15 PM / 4 years ago

Australia shares seen inching up in holiday-thinned trade

MELBOURNE, Oct 7 (Reuters) - Australian shares are set to
open higher on Monday, but buying is likely to be thin with part
of the country on a public holiday and investors wary of the
potential consequences of a prolonged U.S. budget and debt
    * Local share price index futures rose 0.6 percent
to 5,236.0, a 28-point premium to the underlying S&P/ASX 200
index close. The benchmark fell 0.5 percent on Friday.
    * New Zealand's benchmark NZX 50 index was steady in
early trade, gaining half a point to 4,759.9. 
    * U.S. stocks rebounded on Friday, but major stock indexes
ended the week lower as a federal government shutdown continued
for a fourth day, with no sign of an end to a budget stalemate
in Washington.
    * Copper rose 1 percent on Friday, helped by bullish
technical signals and as investors weighed whether the U.S.
government shutdown could delay a Federal Reserve move to cut
its stimulus program. Gold fell as the U.S. dollar recovered
from two-month lows.
    * Shares in aspiring coal miner Cokal Ltd could
come under pressure after its Singapore-based suitor Blumont
Group abruptly called off a proposed S$146 million
($117 million) takeover after Blumont's shares sank 56 percent. 
    * Discovery Metals may also be in the frame after
Blumont shares plunged. Blumont owns 85 percent of Blumont
Copper, which last month bought a 12 percent stake in Discovery
as part of a $108 million rescue deal.
----------------------MARKET SNAPSHOT @ 2129 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1690.5       0.71%    11.840
USD/JPY                   97.29        0.23%     0.220
10-YR US TSY YLD     2.6447          --     0.000
SPOT GOLD                 1310.38      0.00%     0.000
US CRUDE                  103.79       0.46%     0.480
DOW JONES                 15072.58     0.51%     76.10
ASIA ADRS                147.21       0.62%      0.91

  * Wall St ends up, but falls for week as shutdown drags on 
  * Oil ends higher as offshore oil output cut due to storm 
  * Gold slips as dollar recovers; eye on U.S. shutdown   
  * Copper up, market weighs shutdown impact             
    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 

 (Editing by Christopher Wilson)

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