WOW Woolworths Group Limited

2358 GMT [Dow Jones] Australia's S&P/ASX 200 may open as much as 0.5% higher at 5005.0 after offshore financial markets saw a mostly positive reaction to Fed Chairman Ben Bernanke's semi-annual monetary policy report to Congress, as well as to earnings reports from the likes of Yahoo, IBM and BofA. With Mr. Bernanke saying the Fed's asset purchases "are by no means on a preset course" and will be adjusted according to economic data, U.S. 10-year bond yields fell 4 basis points to 2.49%, giving a positive lead for high-dividend-yield stocks like banks, telcos and property trusts. Iron-ore miners should also rise after spot iron ore gained 1.1% and BHP (BHP.AU) ADRs rose to A$34.33, up 0.4% on the local close. Improved earnings guidance from Woolworths (WOW.AU) may generate some share price outperformance. Index last 4981.7. (david.rogers1@wsj.com)

 
Write to Shani Raja at shani.raja@wsj.com 
 
 

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