Feb 13 Australian shares are set to inch higher
on Monday, mirroring Wall Street, with miners poised to rise due
to strong gains in iron ore prices.
Chinese iron ore futures jumped nearly 8 percent on Friday
to their highest in three years. They were buoyed by news that
January imports surged in a sign of a sharp uptick in demand
from steel mills as the world's second-biggest economy picked up
The local share price index futures rose 0.2
percent to 5,677, a 43.61-point discount to the underlying
S&P/ASX 200 index close. The benchmark closed up 1
percent to 5,720.61 points on Friday.
New Zealand's benchmark S&P/NZX 50 index rose 0.1
percent in early trade.
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 Shashwat Pradhan in Bengaluru; Editing by Alison