Dogging The | Australia Shares Seen Inching Up On Resources, Banks
July 5, 2010 – 12:36 am
Australia shares seen inching up on resources, banks
Share price index futures YAPcm1 eased three points to4,414, a 1-point premium to the underlying S&P/ ASX 200 index. AXJO on Friday, when it fell 1.5 percent.
Investors in mining stocks will be looking for any signthat the industry will persuade the government, under new primeminister Julia Gillard, to reduce the proposed rate on itsresource super profits tax .
Rio Tinto Chief Executive Tom Albanese told Reuters thatthe company supported tax reform and wanted the new mining taxto be resolved as soon as possible to remove uncertaintydogging the sector. [ID:nSGE65Q024]
New Zealand’s benchmark NZX 50 index .NZ50 lost 4.1points to hit 3,030.0 in early trade.
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Australia shares open 0.5 percent higher
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