MELBOURNE, Dec 29 (Reuters) - Australian stocks may start
firmer on Monday, reopening after a two-session Christmas break,
with miners potentially bolstered by a rebound in copper prices
from four year lows and by stronger gold futures.
March share price futures closed at 3,583.0 on Dec 24, little changed from the 3,582.2 close that day in the underlying S&P/ASX 200 index.
Oil producers such as Woodside Petroleum may benefit after oil climbed, breaking a nine-day stretch of losing sessions after the United Arab Emirates said they will deepen supply cuts in line with OPEC's biggest-ever output cut announced last week.
A rise in U.S. copper futures, which settled up over 2 percent on Friday in a technical rebound, may help miners such as BHP Billiton.
The Australian newspaper said on Monday that miner OZ Minerals may be forced to sell assets as bankers reject its attempts to refinance about A$1.1 billion of debt. The company's shares have been suspended from trading since early December.
Fosters Group may be a focus after The Age newspaper said on Monday the brewer and Japanese beer maker Asahi Breweries may form a partnership. Fosters already distributes Asahi beer.
New Zealand's benchmark NZX 50 index rose 0.2 percent to 2,673.96 in early trade. ----------------------MARKET SNAPSHOT @ 2113 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 872.8 0.54% 4.650 USD/JPY 90.64 0.35% 0.320
10-YR US TSY YLD 2.1335 -- -
SPOT GOLD 866.8 -- -- US CRUDE 37.9 7.21% 2.550 DOW JONES 8515.55 0.56% 47.07 ASIA ADRS 91.31 1.90% 1.70
* U.S. stocks: Wall St gains on energy stocks and GMAC
* Oil above $37 on UAE supply cut, thin trade
* U.S. gold ends near 8-day top
* U.S. copper ends up 2 pct
For a digest of the day's business stories in Australian newspapers, double click on
(Reporting by Miranda Maxwell)
((miranda.maxwell@reuters.com; Reuters Messaging: miranda.maxwell.reuters.com@reuters.net; +61-3 9286-1464))
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.
March share price futures closed at 3,583.0 on Dec 24, little changed from the 3,582.2 close that day in the underlying S&P/ASX 200 index.
Oil producers such as Woodside Petroleum may benefit after oil climbed, breaking a nine-day stretch of losing sessions after the United Arab Emirates said they will deepen supply cuts in line with OPEC's biggest-ever output cut announced last week.
A rise in U.S. copper futures, which settled up over 2 percent on Friday in a technical rebound, may help miners such as BHP Billiton.
The Australian newspaper said on Monday that miner OZ Minerals may be forced to sell assets as bankers reject its attempts to refinance about A$1.1 billion of debt. The company's shares have been suspended from trading since early December.
Fosters Group may be a focus after The Age newspaper said on Monday the brewer and Japanese beer maker Asahi Breweries may form a partnership. Fosters already distributes Asahi beer.
New Zealand's benchmark NZX 50 index rose 0.2 percent to 2,673.96 in early trade. ----------------------MARKET SNAPSHOT @ 2113 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 872.8 0.54% 4.650 USD/JPY 90.64 0.35% 0.320
10-YR US TSY YLD 2.1335 -- -
SPOT GOLD 866.8 -- -- US CRUDE 37.9 7.21% 2.550 DOW JONES 8515.55 0.56% 47.07 ASIA ADRS 91.31 1.90% 1.70
* U.S. stocks: Wall St gains on energy stocks and GMAC
* Oil above $37 on UAE supply cut, thin trade
* U.S. gold ends near 8-day top
* U.S. copper ends up 2 pct
For a digest of the day's business stories in Australian newspapers, double click on
(Reporting by Miranda Maxwell)
((miranda.maxwell@reuters.com; Reuters Messaging: miranda.maxwell.reuters.com@reuters.net; +61-3 9286-1464))
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.
© 2008 AFX News
