SYDNEY, Dec 1 (Reuters) - Australian stocks are set to rise
on Monday, extending last week's biggest ever weekly gain,
tracking Wall Street's advance on hopes recent government and
central bank moves would help the U.S. economy.
Gains may be capped however amid concerns over the outlook for the U.S. economy, with analysts warning that Wall Street may struggle this week as investors grapple with a raft of economic data, including November jobs figures, which are expected to confirm a deep economic downturn.
Australian December share price index (SPI) futures added 15 points, or 0.4 percent, to 3, 746, a 3.5-point premium to the underlying S&P/ASX 200 index.
Australian bank stocks may rise, mirroring U.S. financials which rallied on Friday after the Federal Reserve's bail out package to support consumer debt securities market.
Gold miners and energy stocks could gain following a rise in oil and gold prices, though base metal miners may fall after copper prices, aluminimum and lead slipped.
New Zealand's benchmark NZX 50 index was up 0.2 percent at 2715.802 in early trade. ----------------------MARKET SNAPSHOT @ 2100 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 896.24 0.96% 8.560 USD/JPY 95.51 0.17% 0.160
10-YR US TSY YLD 2.9217 -
0.000 SPOT GOLD 813 0.00% 0.000 US CRUDE 55.05 1.12% 0.610 DOW JONES 8829.04 1.17% 102.43 ASIA ADRS 87.59 -0.93% -0.82
* Wall St gains in thin trade, S&P up 12 pct for week
* Oil rises on short-covering; down 20 pct in Nov
* Gold falls on dollar rise, inflation in focus
* Copper slides, Japan data highlights bleak outlook
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))
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.
Gains may be capped however amid concerns over the outlook for the U.S. economy, with analysts warning that Wall Street may struggle this week as investors grapple with a raft of economic data, including November jobs figures, which are expected to confirm a deep economic downturn.
Australian December share price index (SPI) futures added 15 points, or 0.4 percent, to 3, 746, a 3.5-point premium to the underlying S&P/ASX 200 index.
Australian bank stocks may rise, mirroring U.S. financials which rallied on Friday after the Federal Reserve's bail out package to support consumer debt securities market.
Gold miners and energy stocks could gain following a rise in oil and gold prices, though base metal miners may fall after copper prices, aluminimum and lead slipped.
New Zealand's benchmark NZX 50 index was up 0.2 percent at 2715.802 in early trade. ----------------------MARKET SNAPSHOT @ 2100 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 896.24 0.96% 8.560 USD/JPY 95.51 0.17% 0.160
10-YR US TSY YLD 2.9217 -
0.000 SPOT GOLD 813 0.00% 0.000 US CRUDE 55.05 1.12% 0.610 DOW JONES 8829.04 1.17% 102.43 ASIA ADRS 87.59 -0.93% -0.82
* Wall St gains in thin trade, S&P up 12 pct for week
* Oil rises on short-covering; down 20 pct in Nov
* Gold falls on dollar rise, inflation in focus
* Copper slides, Japan data highlights bleak outlook
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))
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.