May 8, 2013 / 11:18 PM / 6 years ago

Australia shares seen higher on Wall St record, copper prices

SYDNEY, May 9 (Reuters) - Australian shares are set to rise
on Thursday after Wall Street extended its record run, with
miners likely to make further gains as trade data from top
consumer China boosted copper prices.  
   
    * Australia's stock index futures rose 0.3 percent
to 5,205.0, a 5.3-point premium to the underlying S&P/ASX 200
index close. 
    The benchmark jumped 1.1 percent on Wednesday with miners
leading the gains, buoyed by better than expected trade data
from China. 
    * New Zealand's benchmark NZX 50 index came off
slightly in early trade, losing 1.5 points to 4,638.8.
    * The S&P 500 closed at an all-time high for a fifth day on
Wednesday in a broad rally that keeps surprising investors with
its longevity and resilience.  
    * Copper prices rose to their highest level in more than
three weeks on Wednesday, as strong trade data from top consumer
China fueled hopes of demand revival, although uncertainty about
the global economic growth kept gains in check.  
    * National Australia Bank, the country's largest
bank by assets, reported a 3.1 percent rise in first-half profit
on Thursday, as higher earnings in its Australian personal and
wholesale banking units were constrained by losses in its UK
business. 
    * Global miner Rio Tinto holds its annual meeting
in Australia. Investors will watch for any comment on how soon
the miner will complete an iron ore expansion to 360 million
tonnes a year, and any asset sales. 
    * Australia will release employment figures for April at
0130 GMT. The jobless rate ticked up to a three-year peak of 5.6
pct in March and a further increase would add to the case for
another cut in interest rates. 

----------------------MARKET SNAPSHOT @ 2250 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1632.69      0.41%     6.730
USD/JPY                   98.9        -0.08%    -0.080
10-YR US TSY YLD     1.7674          --     0.000
SPOT GOLD                 1471.85     -0.02%    -0.340
US CRUDE                  96.52       -0.10%    -0.100
DOW JONES                 15105.12     0.32%     48.92
ASIA ADRS                146.07       1.31%      1.89
-------------------------------------------------------------   
                                                       
   
        
  * S&P 500 ends at record for 5th day; Groupon up late     
  * Oil ends mixed, Brent/WTI at narrowest in 2-plus years 
  * Gold up over 1 pct on dollar drop, physical demand    
  * Copper gains as China data boosts demand optimism    
    
    For a digest of the day's business stories in Australian 
newspapers, double click on    
        

 (Reporting By Maggie Lu Yueyang; Editing by Richard Pullin)
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