Dec 5 Australian shares are likely to rise on
Monday, after strong U.S jobs data further cemented a case for
an interest rate hike this year, with gains expected in basic
material stocks as a result of a weaker U.S. dollar.
The U.S. unemployment rate fell to a nine-year low of 4.6
percent in November, clearing the way for a rate hike later this
The dollar fell broadly on Friday after gains over the last
three weeks. Analysts said this was a short-term correction,
after a strong rally in the wake of Donald Trump's victory in
the U.S. presidential election on Nov. 8.
The local Australian share price index futures rose
0.4 percent, to 5,465 points, a 21-point premium to the
underlying S&P/ASX 200 index close. The benchmark
dropped 1.1 percent last week.
New Zealand's benchmark S&P/NZX 50 index was down
0.1 percent at 6,897.29 in early trading on Monday.
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(Reporting by Suhail Hassan Bhat in Bengaluru; Editing by