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Australia shares set to edge higher, NZ up on rate cut
March 9, 2016 / 9:14 PM / 2 years ago

Australia shares set to edge higher, NZ up on rate cut

SYDNEY, March 10 (Reuters) - Australian shares looked set
for a firm start after Wall Street eked out modest gains and oil
and base metal prices rose, though iron ore suffered a setback
after its recent surge.
    The local share price index futures rose 0.2
percent to 5,163, a 6-point premium to the underlying S&P/ASX
200 index close.
    The benchmark rose almost 1 percent on Wednesday, but faces
stiff resistance around the week's high at 5,182.5.
    New Zealand's benchmark S&P/NZX 50 index rose 0.4
percent in early trade after the country's central bank
surprised many by cutting interest rates a quarter point to a
record low of 2.25 percent. 
    For a summary of overnight action across global markets,
double click on 
    For a digest of the day's business stories in Australian 
newspapers, double click on 

 (Reporting by Wayne Cole; Editing by Alison Williams)

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