November 22, 2017 / 9:18 PM / 24 days ago

Australia shares to open firm on metals; NZ up

    Nov 23 (Reuters) - Australian shares are expected to open
firm on Thursday as strong metal prices are set to underpin
gains in the materials sector, boosting the benchmark for a
third straight session. 
    Chinese steel futures rallied on Wednesday, supported by
leaner supply and expectations that consumption in the world's
top user would recover when production cuts are lifted after
winter.           
    Meanwhile, zinc climbed to its highest in two weeks on
Wednesday on persistent concern about shortages and after
Chinese steel futures rallied.        
    Local share price index futures          rose 0.1 percent or
5 points to 6,005, a 18.6-point premium to the underlying
S&P/ASX 200 index         close. The benchmark rose 0.4 percent
on Wednesday. 
    New Zealand's benchmark S&P/NZX 50 index         rose 0.2
percent or 15.120 points to 8,120.110 in early trade.

 (Reporting by Aditya Soni in Bengaluru)
  
 
 

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