SYDNEY, Nov 24 (Reuters) - Australian shares are set to
extend gains on Monday, tracking a late surge on Wall Street
which got a boost from reports President-elect Barack Obama had
selected his Treasury secretary.
It was confirmed at the weekend that New York Federal Reserve Bank president Timothy Geithner would be Obama's points man to tackle the worst financial crisis in more than 70 years, for more see:.
Australia's December share index futures rose 103 points to 3,535 in after-hours trade, a 118.5-point premium to the close in the underlying S&P/ASX 200 index on Friday, when the market rose 1.9 percent.
Shares in top miner BHP Billiton are seen opening up as much as 5 percent, based on their New York close on Friday, despite media reports it had cut iron ore output from its Brazilian operations on weak demand.
Brewer Lion Nathan Ltd could also be in focus after chief executive Rob Murray was quoted in a television interview saying he would not take his bid for Coca-Cola Amatil Ltd hostile.
'Let's be under no illusions, we're not even remotely thinking this could be done on a hostile basis,' Murray said on ABC's Inside Business programme.
New Zealand's benchmark NZX 50 index jumped 1.2 percent to 2,610.9 in early trade. ----------------------MARKET SNAPSHOT @ 2104 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 800.03 6.32% 47.590 USD/JPY 95.87 2.46% 2.300
10-YR US TSY YLD 3.2405 -
0.000 SPOT GOLD 799.45 0.00% 0.000 US CRUDE 50.36 1.90% 0.940 DOW JONES 8046.42 6.54% 494.13 ASIA ADRS 81.14 9.47% 7.02
* Wall St stages late rally on Geithner news
* Oil rallies from 3-1/2-year low as stocks rise
* Gold rises above $800 on strong physical buying
* Copper trims gains after recovery from 3-yr low
For a digest of the day's business stories in Australian newspapers, double click on
($1=A$1.58)
((Australia/New Zealand bureaux; +61 2 9373 1800/+64 4 471 4234))
DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Australia diary Wall Street Week Ahead Eurostocks Week Ahead ................................................................ For latest top breaking news across all markets ................................................................ TOP NEWS SUMMARIES ON OTHER SUBJECTS | U.S. Companies | European Companies | | Forex | Global Economy | | Tech.Media,Telecoms | Banking, Financials | | Politics & General | Sports | ................................................................ MAJOR STOCK MARKET REPORTS New York Weekly outlook New York Pan-Europe Weekly outlook Europe London Weekly outlook London Tokyo ................................................................ ASIA STOCK MARKETS Pan-Asia...................... Bangkok...... Karachi........ S/east Asia. Bombay....... Kuala Lumpur... Sydney/NZ... China........ Seoul.......... Taipei...... Hong Kong.... Singapore...... Tokyo........ ................................................................ Access to some items may depend on subscription level. ................................................................ UP-TO-THE-MINUTE HEADLINES Company results Economic indicators Mergers & acquisitions Interest rates LIVE PRICES & DATA World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt HOW TO FIND INFORMATION YOU NEED | | | | | || | | | LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt Australian dollar LME price overview Keywords: MARKETS AUSTRALIA STOCKS (Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News, please visit http://topnews.reuters.com) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
It was confirmed at the weekend that New York Federal Reserve Bank president Timothy Geithner would be Obama's points man to tackle the worst financial crisis in more than 70 years, for more see:.
Australia's December share index futures rose 103 points to 3,535 in after-hours trade, a 118.5-point premium to the close in the underlying S&P/ASX 200 index on Friday, when the market rose 1.9 percent.
Shares in top miner BHP Billiton are seen opening up as much as 5 percent, based on their New York close on Friday, despite media reports it had cut iron ore output from its Brazilian operations on weak demand.
Brewer Lion Nathan Ltd could also be in focus after chief executive Rob Murray was quoted in a television interview saying he would not take his bid for Coca-Cola Amatil Ltd hostile.
'Let's be under no illusions, we're not even remotely thinking this could be done on a hostile basis,' Murray said on ABC's Inside Business programme.
New Zealand's benchmark NZX 50 index jumped 1.2 percent to 2,610.9 in early trade. ----------------------MARKET SNAPSHOT @ 2104 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 800.03 6.32% 47.590 USD/JPY 95.87 2.46% 2.300
10-YR US TSY YLD 3.2405 -
0.000 SPOT GOLD 799.45 0.00% 0.000 US CRUDE 50.36 1.90% 0.940 DOW JONES 8046.42 6.54% 494.13 ASIA ADRS 81.14 9.47% 7.02
* Wall St stages late rally on Geithner news
* Oil rallies from 3-1/2-year low as stocks rise
* Gold rises above $800 on strong physical buying
* Copper trims gains after recovery from 3-yr low
For a digest of the day's business stories in Australian newspapers, double click on
($1=A$1.58)
((Australia/New Zealand bureaux; +61 2 9373 1800/+64 4 471 4234))
DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Australia diary Wall Street Week Ahead Eurostocks Week Ahead ................................................................ For latest top breaking news across all markets ................................................................ TOP NEWS SUMMARIES ON OTHER SUBJECTS | U.S. Companies | European Companies | | Forex | Global Economy | | Tech.Media,Telecoms | Banking, Financials | | Politics & General | Sports | ................................................................ MAJOR STOCK MARKET REPORTS New York Weekly outlook New York Pan-Europe Weekly outlook Europe London Weekly outlook London Tokyo ................................................................ ASIA STOCK MARKETS Pan-Asia...................... Bangkok...... Karachi........ S/east Asia. Bombay....... Kuala Lumpur... Sydney/NZ... China........ Seoul.......... Taipei...... Hong Kong.... Singapore...... Tokyo........ ................................................................ Access to some items may depend on subscription level. ................................................................ UP-TO-THE-MINUTE HEADLINES Company results Economic indicators Mergers & acquisitions Interest rates LIVE PRICES & DATA World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt HOW TO FIND INFORMATION YOU NEED | | | | | || | | | LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt Australian dollar LME price overview Keywords: MARKETS AUSTRALIA STOCKS (Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News, please visit http://topnews.reuters.com) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.