May 16, 2018 / 10:08 PM / a year ago

Australia shares to climb, NZ up ahead of budget

    May 17 (Reuters) - Australian shares are poised to open
higher on Thursday, following an upbeat close on Wall Street,
while solid oil prices are seen lending support to energy
    Oil prices gained on Wednesday after an inventory report
showed U.S. crude and gasoline stocks fell more than
    The local share price index futures          rose 0.18
percent or 11 points to 6,110, a 3-point premium to the
underlying S&P/ASX 200 index         close. The benchmark rose
0.2 percent on Wednesday.
    Meanwhile, investors will be closely watching the first
annual budget by New Zealand's Labour-led government due later
in the day.             
    New Zealand's benchmark S&P/NZX 50 index         gained 0.26
percent at 2205 GMT.

 (Reporting by Shanima A in Bengaluru; Editing by Lisa Shumaker)
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