December 20, 2016 / 10:04 PM / 8 months ago

Australia shares likely to open higher; NZ up

Dec 21 (Reuters) - Australian shares are seen continuing
gains into a third straight session on Wednesday, supported by a
stellar performance on Wall Street on Tuesday and an overnight
rise in oil prices.  
    Basic material stocks on the other hand may continue to see
some pressure as commodity prices remain weaker with Chinese
steel and iron ore futures extending losses into a fifth day on
Tuesday and as the dollar hovers on 14-year highs. 
 
    The local share price index futures rose 0.2
percent, or 12 points, to 5,564, a 27.1-point discount to the
underlying S&P/ASX 200 index close. The benchmark closed
0.52 percent higher in the previous session, hitting its
16-month peak.
    New Zealand's benchmark S&P/NZX 50 index was up
0.221 percent, or 15.02 points, at 6,804.69 at 2110 GMT.
        
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 Susan Mathew in Bengaluru; Editing by James
Dalgleish)

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