SYDNEY, Jan 5 (Reuters) - Australian stocks could gain on
Monday as investors buy in to a view that this year could only be
better than last, sentiment that pushed Wall Street up on its
first trading day on Friday.
Resources stocks could rise after gains in metals and oil prices, though overall gains could be capped as investors await next month's company profit reporting season for a clearer picture of the state of the economy.
Analysts have said that a recovery in global economies is expected in the second half of the year, though they have warned that volatility will be a feature of stock markets this year.
Stock index futures last traded up 2.9 percent, or 107 points, at 3,785, a 71.2 point premium to the 3,713.8 close in the underlying S&P/ASX 200 index on Friday.
New Zealand's benchmark NZX 50 index rose 1 percent to 2,743.6 in early trade. ----------------------MARKET SNAPSHOT @ 2120 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 931.8 3.16% 28.550 USD/JPY 92.29 1.62% 1.470
10-YR US TSY YLD 2.3622 -
0.000 SPOT GOLD 873.2 0.00% 0.000 #VALUE! DOW JONES 9034.69 2.94% 258.30 ASIA ADRS 97.87 2.98% 2.83
* Wall Street starts new year with strong rally
* Oil up 4 percent on Mideast, Russia tensions
* Gold drops but physical demand, tensions support
* Nickel soars ahead of index re-jig, tin jumps
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 2009. 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.
Resources stocks could rise after gains in metals and oil prices, though overall gains could be capped as investors await next month's company profit reporting season for a clearer picture of the state of the economy.
Analysts have said that a recovery in global economies is expected in the second half of the year, though they have warned that volatility will be a feature of stock markets this year.
Stock index futures last traded up 2.9 percent, or 107 points, at 3,785, a 71.2 point premium to the 3,713.8 close in the underlying S&P/ASX 200 index on Friday.
New Zealand's benchmark NZX 50 index rose 1 percent to 2,743.6 in early trade. ----------------------MARKET SNAPSHOT @ 2120 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 931.8 3.16% 28.550 USD/JPY 92.29 1.62% 1.470
10-YR US TSY YLD 2.3622 -
0.000 SPOT GOLD 873.2 0.00% 0.000 #VALUE! DOW JONES 9034.69 2.94% 258.30 ASIA ADRS 97.87 2.98% 2.83
* Wall Street starts new year with strong rally
* Oil up 4 percent on Mideast, Russia tensions
* Gold drops but physical demand, tensions support
* Nickel soars ahead of index re-jig, tin jumps
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 2009. 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.