MELBOURNE, Dec 22 - Australian shares are expected to open higher on Wednesday, with miners well positioned after copper prices hit a record high, and Wall Street rose on solid earnings and a flurry of merger action.
* Local share price index futures gained 0.3 percent to 4,779.0, a 9.1-point premium to the underlying S&P/ASX 200 index. The S&P/ASX 200 index rose 0.8 percent on Tuesday.
* Mining shares will be supported after copper prices charged to an all-time high on shipment delays in top producer Chile and robust demand prospects in China. The U.S. ADRs of global miner BHP Billiton rose 0.5 percent.
* Gold shares could also rise after gold firmed as further possible downgrades of some European countries' debt gave the metal a safety bid.
* Miners Rio Tinto and Riversdale are expected to be in focus as Rio is said to be finalising a takeover offer for Africa-focused Riversdale at around A$16 per share, or about $3.8 billion.
* Foster's Group said Chief Executive Ian Johnston will leave the group if the company's plan to split its beer and wine operations proceeds in the first half of 2011. See.
* New Zealand's benchmark NZX 50 index rose 0.3 percent to 3329.1 in early trade. ----------------------MARKET SNAPSHOT @ 2215 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 1254.6 0.6% 7.520 USD/JPY 83.75 -0.04% -0.030 10-YR US TSY YLD 3.3031 -- -0.037 SPOT GOLD 1385.1 -0.01% -0.200 US CRUDE 90.02 0.73% 0.650 DOW JONES 11533.16 0.48% 55.03 ASIA ADRS 140.16 1.10% 1.53 -------------------------------------------------------------
* Wall St rises as earnings, M&A heightens optimism
* U.S. crude rises above $90 on API stock drawdown
* U.S. gold ends higher, debt fears renew haven bid
* Copper soars to record on supply worry, fund buys
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 2010. 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.
* Local share price index futures gained 0.3 percent to 4,779.0, a 9.1-point premium to the underlying S&P/ASX 200 index. The S&P/ASX 200 index rose 0.8 percent on Tuesday.
* Mining shares will be supported after copper prices charged to an all-time high on shipment delays in top producer Chile and robust demand prospects in China. The U.S. ADRs of global miner BHP Billiton rose 0.5 percent.
* Gold shares could also rise after gold firmed as further possible downgrades of some European countries' debt gave the metal a safety bid.
* Miners Rio Tinto and Riversdale are expected to be in focus as Rio is said to be finalising a takeover offer for Africa-focused Riversdale at around A$16 per share, or about $3.8 billion.
* Foster's Group said Chief Executive Ian Johnston will leave the group if the company's plan to split its beer and wine operations proceeds in the first half of 2011. See.
* New Zealand's benchmark NZX 50 index rose 0.3 percent to 3329.1 in early trade. ----------------------MARKET SNAPSHOT @ 2215 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 1254.6 0.6% 7.520 USD/JPY 83.75 -0.04% -0.030 10-YR US TSY YLD 3.3031 -- -0.037 SPOT GOLD 1385.1 -0.01% -0.200 US CRUDE 90.02 0.73% 0.650 DOW JONES 11533.16 0.48% 55.03 ASIA ADRS 140.16 1.10% 1.53 -------------------------------------------------------------
* Wall St rises as earnings, M&A heightens optimism
* U.S. crude rises above $90 on API stock drawdown
* U.S. gold ends higher, debt fears renew haven bid
* Copper soars to record on supply worry, fund buys
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 2010. 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.