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Reuters New Media Australia shares seen up but Dow retreat may limit
Thursday November 5, 2009, 8:41 am
SYDNEY, Nov 5 (Reuters) - Australian stocks may rise on Thursday as resources firms gain on higher gold, oil and metals prices, but a late pullback on Wall Street after the U.S. Federal Reserve policy statement may limit any gains.

The Fed voiced growing confidence that economic recovery was building, though it stuck to its commitment to keep borrowing costs near zero for "an extended period" [ID:nN04453484].

But U.S. stocks shed most of their gains after the Fed's decision gave investors few new reasons to boost holdings.

Australian stock index futures YAPcm1 stood 23 points higher at 4,544, little changed from the 4,540.1 point close in the underlying S&P/ASX 200 index .AXJO on Wednesday.

Banks may rise after Westpac Banking Corp's (ASX: WBC.ax) upbeat earnings report on Wednesday.

Retailer David Jones (ASX: DJS.ax) will release its first-quarter sales report on Thursday, while contractor Leighton Holdings (ASX: LEI.ax) holds its annual meeting.

New Zealand's benchmark NZX 50 index .NZ50 was up 0.4 percent at 3,178.4 points in early trade.

More Quotes and Company Information:
  • DAVID JONES LIMITED (ASX: DJS.ax)
  • LEIGHTON HOLDINGS LIMITED(ASX: LEI.ax)
  • WESTPAC BANKING CORPORATION(ASX: WBC.ax)
  •   

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