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Australia shares seen supported by iron ore prices

iron-ore-miningSYDNEY: 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


Index Closing Chg%
Arrow DJIA 17,719.92 0.44
Arrow Nasdaq 5,108.67 0.37
Arrow S&P 2,080.41 0.46
Arrow FTSE 6,356.09 0.30
Arrow DAX 11,382.23 0.78
Arrow CAC-40 4,957.60 0.56
Arrow Nikkei 19,747.47 0.69
Arrow H.Seng 21,996.42 0.33
Arrow Sensex 26,145.67 0.07

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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 30, 2015
Reserves $19.828 bln