February 21, 2017 / 9:42 PM / 6 months ago

Aussie shares to rise on cues from U.S. markets; Fletcher Building drags NZ lower

    Feb 22 (Reuters) - Australian shares are set to open sharply
higher on Wednesday, tracking U.S. stocks that hit record highs
on strong earnings reports.
    Gains on Wall Street were further aided by Philadelphia
Fed's President, Patrick Harker, who said he would likely
support a quarter point rate increase at the central bank's
March 14-15 meeting if the economy improves further.             
    The local share price index futures          rose 0.5
percent to 5,770 or 31 points, a 22-point discount to the
benchmark index         close. The S&P/ASX 200 index ended 0.07
percent lower on Tuesday.
    New Zealand's benchmark S&P/NZX 50 index         fell 0.16
percent or 11.02 points in early trade.
    Early losses were led by materials, with Fletcher Building
         slipping 3.3 percent, after it reported its half-year
results.
    
    
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 Aparajita Saxena in Bengaluru; Editing by Robin
Pomeroy)
  
 
 

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