SYDNEY, March 16 (Reuters) - Australian stocks are expected
to rise on Monday, extending last week's 6.3 percent advance,
after the U.S. market notched up its best week since November.
Broadly higher metal prices could also help the resources-heavy Australian market, with local banks expected to benefit as well from strong gains in offshore financial stocks.
Australia's March share price index futures rose 26 points or 0.8 percent to 3,363, a 17.8-point premium to the underlying index.
On Friday, the benchmark S&P/ASX 200 index rose 109.7 points, or 3.4 percent, to 3,345.2 points, its biggest one-day percentage rise since Dec. 8.
This week, the Foreign Investment Review Board is due to give an update on its review of Chinalco's proposed $19.5 billion investment in Rio Tinto.
New Zealand's benchmark NZX 50 index rose 0.5 percent to 2,536 in early trade. ----------------------MARKET SNAPSHOT @ 2107 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 756.55 0.77% 5.810 USD/JPY 98.07 0.33% 0.320
10-YR US TSY YLD 2.8957 -
0.000 SPOT GOLD 927.2 0.00% 0.000 US CRUDE 46.1 -1.98% -1.300 DOW JONES 7223.98 0.75% 53.92 ASIA ADRS 82.07 1.33% 1.08
* U.S. stocks: Fear still focus after strong rally
* Oil falls toward $46 on gloomy demand outlook
* Gold firm on currency fears, rising demand
* Copper up, but off highs as equities cap momentum
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.
Broadly higher metal prices could also help the resources-heavy Australian market, with local banks expected to benefit as well from strong gains in offshore financial stocks.
Australia's March share price index futures rose 26 points or 0.8 percent to 3,363, a 17.8-point premium to the underlying index.
On Friday, the benchmark S&P/ASX 200 index rose 109.7 points, or 3.4 percent, to 3,345.2 points, its biggest one-day percentage rise since Dec. 8.
This week, the Foreign Investment Review Board is due to give an update on its review of Chinalco's proposed $19.5 billion investment in Rio Tinto.
New Zealand's benchmark NZX 50 index rose 0.5 percent to 2,536 in early trade. ----------------------MARKET SNAPSHOT @ 2107 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 756.55 0.77% 5.810 USD/JPY 98.07 0.33% 0.320
10-YR US TSY YLD 2.8957 -
0.000 SPOT GOLD 927.2 0.00% 0.000 US CRUDE 46.1 -1.98% -1.300 DOW JONES 7223.98 0.75% 53.92 ASIA ADRS 82.07 1.33% 1.08
* U.S. stocks: Fear still focus after strong rally
* Oil falls toward $46 on gloomy demand outlook
* Gold firm on currency fears, rising demand
* Copper up, but off highs as equities cap momentum
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.