Australia shares set to inch higher; NZ flat

June 27 – Australian shares are expected to open marginally
higher on Tuesday, tracking meagre gains on Wall Street and
helped by basic materials and energy stocks.
Oil prices settled more than half a percent higher on Monday
as some traders found bargains after last week’s seven-month
lows, while bets on tighter supplies from government-enforced
cutbacks led to a rise in China’s steel prices.

The local share price index futures rose 0.04
percent or 2 points to 5,668, a 52.2-point discount to the
underlying S&P/ASX 200 index close.
The benchmark rose 0.1 percent in the previous session.
New Zealand’s benchmark S&P/NZX 50 index rose 0.03
percent, or 2.55 points, to 7,598.05 at 2212 GMT.
($1 = 1.3193 Australian dollars)

(Reporting by Chris Thomas; Editing by Bill Trott)


Leave a Reply