Energy and Mining Shares Support Australia Shares
Related news follow:
- The Australian stock index futures increased by 0.1 percent to 4,633. This is a 4.2 point premium to the underlying S&P/ASX 200 index that fell by 0.3 percent on Tuesday.
- Benchmark NZX50 of New Zealand is at 0.6 percent early trade.
- Energy stocks may support Australian market after the former increased by 2 percent on Tuesday. This was after Goldman Sachs raised its price forecast for Brent Crude.
- After copper closed up on Tuesday recovering from its prior session’s 3 percent dive, miners may also be shored up. However, worries over European sovereign debt problems and Chinese demand are seen to limit near-term rallies on copper prices.
- Gold prices have been the highest in about three weeks. This happened as concerns about EU debt crisis fueled safe-haven buying, while the euro’s gain on the dollar has added support.
- Telstra’s Chief Financial Officer, John Stanhope, will be speaking at a business lunch on Wednesday.
- Walls Street has pulled back due to growth concerns.
- Oil prices have gone up by 2 per cent as Goldman boosts price forecast.
- Copper is firmer now but is still seen to be vulnerable.
Australia continues to cope even with the global financial turmoil. It sees that it should not solely rely on its international links for opportunities but it must first utilize its local resources.
Source : http://ph.news.yahoo.com/australia-shares-seen-supported-energy-mining-shares-232701768.html