September 3, 2017 / 10:32 PM / in 3 months

Australia shares set to open slightly higher, NZ flat

    Sept 4 (Reuters) - Australian shares are likely to edge up
on Monday, tracking Wall Street's modest gains Friday after a
tepid U.S. jobs report tamped down expectations of another
interest rate hike this year, and getting an extra boost from
strong commodity prices.
    The U.S. Labor Department said on Friday nonfarm payrolls
increased by 156,000 last month, against economists' forecast of
an increase of 180,000.  Job growth slowed in August after two
straight months of robust increases.                
    Commodities are expected to push the index further in the
black, as Chinese rebar steel futures rose as much as 6 percent
on Friday, buoyed by signs of strong industrial outlook in top
metals consumer China.           
    The local share price index futures          rose 0.04
percent or 24 points to 5725, a 0.4 premium to the underlying
S&P/ASX 200 index         close. The benchmark rose 0.2 percent.
    New Zealand's benchmark S&P/NZX 50 index         rose 0.06
percent in early trade.

 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by Mary
Milliken)
  
 
 

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