March 13, 2017 / 9:15 PM / in 9 months

Australia shares poised to open higher; NZ steady

    March 14 (Reuters) - Australian shares are set to open
higher on Tuesday, with materials stocks likely to benefit from
a surge in Shanghai rebar steel futures.
    Investors are also watching a meeting of the U.S. Federal
Reserve, which is expected to result in an interest rate hike
later this week.
    A nearly 6 percent jump in Shanghai rebar steel futures on
Monday was supported by a pickup in seasonal demand in top
consumer China that also lifted Chinese iron ore from a
one-month low.             
    The local share price index futures          rose 0.3
percent or 17 points to 5775, a 17.7 point premium to the
underlying S&P/ASX 200 index         close. The benchmark fell 
0.32 percent on Monday.
    New Zealand's benchmark S&P/NZX 50 index         was flat at
7,193.43 points 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 Sindhu Chandrasekaran in Bengaluru; Editing by
Gareth Jones)
  
 
 

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