May 9, 2018 / 11:08 PM / 16 days ago

Australia shares set to rise on energy, materials stocks; NZ up

    May 10 (Reuters) - Australian shares are likely to open
higher on Thursday, tracking strong gains on Wall Street, while
solid metal and oil prices are seen supporting commodity stocks.
    Oil prices rose about 3 percent on Wednesday and hit fresh
3-1/2 year highs after a bigger-than-expected drawdown in U.S.
oil inventories extended gains from the United States' decision
to quit a nuclear deal with Iran.           
    The local share price index futures          rose 0.34
percent or 21 points to 6,110, a 2-point premium to the
underlying S&P/ASX 200 index         close. The benchmark rose
0.26 percent on Wednesday.
    New Zealand's benchmark S&P/NZX 50 index         rose 0.2
percent in early trade.
    
       

 (Reporting by Shanima A in Bengaluru
Editing by Chris Reese)
  
 
 
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