Australia shares seen steady, coal firms in focus

Australian stocks are set for a steady start on Wednesday in thin, pre-holiday....

Australian stocks are set for a steady start on Wednesday in thin, pre-holiday trading, buoyed by optimism over the economic recovery after firm U.S. data and by merger activity. Stock index futures YAPcm1 stood at 4,708, a 3.8 point premium to the underlying S&P/ASX 200 index’s .AXJO Tuesday close of 4,704.2.Coal firms Macarthur Coal (ASX: MCC.ax) and Gloucester Coal (ASX: GCL.ax) will resume trading after being halted on Tuesday when Macarthur made a takeover offer for Gloucester (see [ID:nSGE5BL013]).New Zealand’s benchmark NZX 50 index .NZ50 rose 0.3 percent to 3,189.2 in early trade. New Zealand’s economy grew for a second straight quarter in the three months to September, data showed (see [ID:nSGE5BL00R]).