Australia shares set for a strong start, NZ down

July 20 (Reuters) – Australian shares were expected to open
higher on Thursday supported by strong commodity prices and a
positive session on Wall Street last night.
China’s iron ore futures rose for a third session on
Wednesday as speculators added bullish bets while oil prices
jumped almost 2 percent.
Wall Street’s three major indexes Dow, S&P 500 and Nasdaq
hit record highs on Wednesday buoyed by technology shares and
strong corporate earnings.
The local share price index futures rose 0.53
percent to 5695 points, a 37.1 point discount to the underlying
S&P/ASX 200 index close. The benchmark ended 0.8 percent
higher on Wednesday.
New Zealand’s benchmark S&P/NZX 50 index fell 0.7 in
early trade.

(Reporting by Urvashi Goenka in Bengaluru)