Tuesday, 08 January 2013 03:50
SYDNEY: Australian shares may find it hard to revisit their 19-month highs on Tuesday after global share markets eased, but miners are likely to be supported by firmer iron ore prices and signs of improved growth in China.
* Local share price index futures inched up 0.1 percent, or 5 points to 4,697.0, a 20.3-point discount to the underlying S&P/ASX 200 index close. The benchmark slipped 0.1 percent to 4,717.3 on Monday.
* New Zealand's benchmark NZX 50 index eased 0.1 percent from a 5-year high to 4,081.9 in early trade.
* US stocks lost ground on Monday, as investors drew back from recent gains that lifted the S&P 500 to a five-year high, in anticipation of sluggish growth in corporate profits.
* Copper eased on Monday as the dollar rose and investors remained concerned the US Federal Reserve might halt asset purchases, but losses were limited by an improved growth outlook in the United States and China, and less gloom in Europe.
* China steel futures hit their highest in more than six months on Monday, backed by a revival in demand in the world's top steel consumer that has fueled a buying spree for raw material iron ore and lifted prices to levels last seen in October 2011.
* Australia will release its trade balance for November on Tuesday, with the trade deficit expected to widen to around A$2.3 billion.
Center>Copyright Reuters, 2013