The Australian stock market is seen to benefit from the gains of the S&P 500 index and futures, which both bounced back reflecting the Federal Reserve's decision to ease up on its fiscal policy.

As of 6.30 a.m. Sydney, the SPI 200 FUTURES 4673 +37; S&P/ASX 200 4619.90 +1.70 NZX 50 INDEX 3231.82; +.98 DOW JONES INDUS. AVG 11112.62 +92.22.

Prices for alternative investments that include commodities oil, gold, and copper were in an upturn in London and New York at yesterday's closing at a 27-month high.

The following stocks are the most traded and the corresponding developments with issuing companies:

Fortescue Metals Group Ltd. (FMG AU) - The company was given by Macquarie Group Ltd a "neutral" from "underperform,." Southern Cross Equities, on the other hand, raised the company's 12-month share- price estimate to A$8. Reports of a new chairman replacing Andrew Forrest lingers.

Rio Tinto Group (RIO AU), the world's third-biggest miner and owner of PanAust Ltd. (PNA AU), the second-largest copper mine in Laos, went up 3.1 percent to 83 Australian cents.

GPT Group (GPT AU) rand Miravac Group, the tAustralian property trust and the real-estate investment trust, respectively, both gained a "neutral" from "underweight" ratings from JPMorgan Chase & Co.

Straits Resources Ltd. (SRL AU) is offered to sell its remaining share in an Indonesian coal miner.