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Australia shares to open higher; NZ slightly up
November 30, 2016 / 9:20 PM / a year ago

Australia shares to open higher; NZ slightly up

Dec 1 (Reuters) - Australian shares are likely to rise on
Thursday, extending the  2.3 percent gain in November, as OPEC's
agreement to cut production lifts oil prices and financials
track U.S. bank stocks. 
    Oil prices jumped more than 10 percent to the highest in a
month after OPEC agreed to cut production by around 1.2 million
barrels per day (bpd), or over 3 percent, from January.
  
    Overnight, two major U.S. indexes, the Dow and the
S&P 500, rose to record intraday highs, driven by energy
and bank stocks. 
    The local share price index futures rose 0.3
percent, or 18 points to 5,460, a 19.5-point premium to the
underlying S&P/ASX 200 index close. The benchmark closed
0.3 percent lower on Wednesday.
    New Zealand's benchmark S&P/NZX 50 index was
marginally up at 6,902.23 in early trade.
        
For a summary of overnight action across global markets, double
click on 
       
For a digest of the day's business stories in Australian 
newspapers, double click on 

 (Reporting by Suhail Hassan Bhat in Bengaluru; Editing by
Alison Williams)

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