SYDNEY, Dec 27 (Reuters) - Australian shares may eke out afifth session of gains on Friday as mining stocks could besupported by a lift in metals prices and Wall Street advanced torecord highs overnight, though trading may be subduedpost-Christmas break.
* The benchmark rose 0.7 percent on Tuesday to 5,327.2, thehighest close since Nov. 29, in a shortened session. Local shareprice index futures was not trading.
* New Zealand's benchmark NZX 50 index was flat inearly trade.
* U.S. stocks gained on Thursday, with the Dow ending at arecord high for the sixth straight day, although trading waslight following the Christmas holiday.
* Shanghai copper futures rose to four-month highs and U.S.prices extended recent gains on growing confidence about theglobal economy, year-end covering and the prospect of purchasesfrom China's state reserves.
* Gold gained nearly 1 percent in thin, year-end trade, butwas still set for its largest annual loss in three decades asinvestors switch to rallying equities on optimism about a globaleconomic recovery.
* China Investment Coporation, an investment fund owned bythe Chinese government, is backing a Chinese food company thatis considering bidding for Australia's Warrnambool Cheese andButter Holdings Co, the Business Spectator reported onFriday, without citing any sources or naming the company.
* Royal Dutch Shell's 23.1 percent stake inAustralian oil and gas group Woodside Petroleum Ltd isseen as more likely to be split up and/or sold to institutionalshareholders than to go in one piece to a strategic buyer,bankers said.
----------------------MARKET SNAPSHOT @ 2216 GMT ------------
INSTRUMENT LAST PCT CHG NET CHGS&P 500 1842.02 0.47% 8.700USD/JPY 104.79 0% 0.00010-YR US TSY YLD 2.9942 -- 0.011SPOT GOLD 1210.49 0.02% 0.190US CRUDE 99.62 0.40% 0.400DOW JONES 16479.88 0.75% 122.33ASIA ADRS 147.63 0.70% 1.03-------------------------------------------------------------
* Wall St rises; Dow at record high for 6th day * Crude oil ends higher, gasoline, heating oil support * Gold up on short covering, platinum in biggest gainsinceOct * Copper gains on improving global economy, year-endcovering
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(Australia/New Zealand bureaux; +61 2 9373 1800/+64 4 471 4234) (Reporting by Thuy Ong; Editing by Leslie Gevirtz)
