Feb 6 Australian shares look set to open higher
on Monday in line with U.S. markets that closed near record
highs on Friday, buoyed by President Donald Trump's move on
deregulation and a strong payrolls report.
Index futures rose 0.4 percent or 24 points, a 25.6
point discount to the underlying S&P/ASX 200 close.
The benchmark closed down 0.4 percent, or 23.834
points on Friday.
Trump on Friday signed an executive order to scale back
banking regulations implemented in response to the global
Though the order was short on specifics, the U.S. financial
market embraced Trump's signal that looser banking regulation is
coming and pushed bank stocks higher.
Shares also rose on data that showed U.S. public and private
sectors created 227,000 jobs last month, exceeding market
Gains are likely to be led by materials, with a weak U.S.
dollar lifting commodity prices.
Local financial stocks may also climb higher, mirroring
their U.S. counterparts.
National Australia Bank, Australia's fourth-largest
by market value, is expected to announce its first-quarter
earnings later in the day.
The New Zealand market is closed for a public holiday.
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(Reporting by Aparajita Saxena in Bengaluru; Editing by Ruth