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Australia shares to open higher after U.S. jobs data while NZ falls
December 4, 2016 / 9:31 PM / a year ago

Australia shares to open higher after U.S. jobs data while NZ falls

Dec 5 (Reuters) - Australian shares are likely to rise on
Monday, after strong U.S jobs data further cemented a case for
an interest rate hike this year, with gains expected in basic
material stocks as a result of a weaker U.S. dollar.
     The U.S. unemployment rate fell to a nine-year low of 4.6
percent in November, clearing the way for a rate hike later this
    The dollar fell broadly on Friday after gains over the last
three weeks. Analysts said this was a short-term correction,
after a strong rally in the wake of Donald Trump's victory in
the U.S. presidential election on Nov. 8. 
    The local Australian share price index futures rose
0.4 percent, to 5,465 points, a 21-point premium to the
underlying S&P/ASX 200 index close. The benchmark
dropped 1.1 percent last week.
    New Zealand's benchmark S&P/NZX 50 index was down
0.1 percent at 6,897.29 in early trading on Monday.
For a summary of overnight action across global markets, double
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For a digest of the day's business stories in Australian 
newspapers, double click on 

 (Reporting by Suhail Hassan Bhat in Bengaluru; Editing by
Alexander Smith)

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