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Australia shares set to crawl up, NZ gains
September 27, 2017 / 9:09 PM / 2 months ago

Australia shares set to crawl up, NZ gains

    Sept 28 (Reuters) - Australian shares are poised to open in
positive territory on Thursday on the back of rising iron ore
and copper prices, with a strong finish on Wall Street seen
adding further cheer.
    Copper         ended up after five days in the red while
iron ore and steel futures climbed on Wednesday.
                        
    U.S. stocks gained on Wednesday as increasing expectations
for a rate hike at the end of the year pushed financial shares
up.     
    The local share price index futures          rose 0.36
percent, or 20 points, to 5,661, a 3.3-point discount to the
underlying S&P/ASX 200 index         close. The benchmark fell
0.1 percent on Wednesday.
    New Zealand's benchmark S&P/NZX 50 index         gained 0.3
percent in early trade.
    New Zealand's central bank held rates at a record low of
1.75 percent on Thursday as expected, saying that a lower New
Zealand dollar would be helpful.             
    The leader of the New Zealand First Party, who emerged as
king-maker after an inconclusive weekend election, said on
Wednesday he would not make a decision on who should form
government until after the Oct. 7 release of a final count.
            

 (Reporting by Hanna Paul in Bengaluru; Editing by James
Dalgleish)
  
 
 

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