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Australian-Securities-ExchangeMELBOURNE: Australian shares may rally beyond 17-month highs on Wednesday after US stocks, oil and base metal prices all rose on signs of progress in talks to avoid the U.S. "fiscal cliff". 


* The stock index futures rose 0.6 percent to 4,631, a 35.8-point premium to the underlying S&P/ASX 200 index. The benchmark climbed 0.5 percent on Tuesday to 4,595.2. 


* New Zealand's benchmark NZX 50 index rose 0.6 percent to 4,002.5 in early trade. 


* US stocks rallied on strong volume on Tuesday, capping off the S&P 500's best two-day run in a month, on confidence that a deal would be struck in Washington to avoid painful spending cuts and tax hikes that could hurt the economy. 


* Copper consolidated gains as progress in the US budget negotiations eased fears the world's biggest economy could tip into recession. 


* New Zealand's annual current account deficit narrowed slightly in the third quarter as trade surplus shrank but foreign investors earned less from local investments, data showed. 


* Investors await comment from surfwear company Billabong International after it put its shares in a trading halt on Monday ahead of a possible takeover bid for the company, the latest development in a tumultuous year in which three previous takeover offers failed. 


Copyright Reuters, 2012


 



 
Index Closing Chg%
Arrow DJIA 16,974.31 0.18
Arrow Nasdaq 4,549.23 0.33
Arrow S&P 1,982.30 0.14
Arrow FTSE 6,453.87 0.81
Arrow DAX 9,082.81 0.16
Arrow CAC-40 4,110.64 0.05
Arrow Nikkei 15,553.91 1.46
Arrow H.Seng 23,819.87 1.27
Arrow Sensex 27,098.17 0.81





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln