September 26, 2019 / 10:10 PM / 24 days ago

Australian shares likely to open higher on strong commodity prices, rate cut hopes

    Sept 27 (Reuters) - Australian shares are poised to open
higher on Friday, buoyed by strength in iron ore futures and oil
prices, while rising expectations of a rate cut by the central
bank next week may also provide a fillip to stocks.
    A Reuters poll suggests the market is almost certain of a
rate cut next week, as the Reserve Bank of Australia meets to
decide on monetary policy.             
    The local share price index futures          rose 0.38%, a
9.4-point premium to the underlying S&P/ASX 200 index        
close. The benchmark fell 0.5% on Thursday.
    New Zealand's benchmark S&P/NZX 50 index         rose 0.2%
in early trade.
    
       

 (Reporting by Soumyajit Saha in Bengaluru, Editing by Rosalba
O'Brien)
  
 
 
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