Australia shares seen consolidating after close above 5,000

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Australia shares seen consolidating after close above 5,000. (Reuters) Australia shares seen consolidating after close above 5,000. (Reuters)
SummaryNew Zealand's benchmark NZX 50 index rose 0.2 percent to 4,229.3 early trade.

Australian shares are likely to be in consolidation mode on Thursday after the market posted its first close above 5,000 since the Lehman Brothers collapse in 2008.

* Australians stock index futures rose 2 points to 4,958.0, a 45.7-point discount to the 5,003.66 close of the underlying S&P/ASX 200 index on Wednesday.

* New Zealand's benchmark NZX 50 index rose 0.2 percent to 4,229.3 early trade.

* U.S. stocks drifted in light volume on Wednesday, ending little changed, as investors remained cautious after the S&P 500 index briefly hit its highest intraday level since November 2007.

* Company results due on Thursday include conglomerate Wesfarmers, and miner Rio Tinto after the market closes.

* In early news, Alumina Ltd said it secured strategic investment of A$452 million from Citic Resources Holding Ltd.

* Mirvac Group said its first-half operating profit was A$194.2 million, though revenue from continuing operations fell to A$635 million from A$692.5 million. It reaffirmed full-year earnings guidance.

* Macmahon Holdings Ltd said it had received a new proposal from Sembawang Australia Pty Ltd to acquire its construction projects.

* Downer EDI Ltd said first half profit was A$94.04 million

* Wall St pauses after rally to 5-yr high

* Brent firm near $119, U.S. crude stocks rise

* Gold drops below $1,650, focus shifts to equities

* Copper dips on dollar, China demand eyed

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