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Australia shares poised for higher open; NZ down
October 24, 2017 / 9:15 PM / a month ago

Australia shares poised for higher open; NZ down

    Oct 25 (Reuters) - Australian shares are expected to open in
positive territory on Wednesday, taking heart from upbeat
performances on Wall Street, while a rally in oil and base metal
prices is also expected to support energy and material stocks.
    On Wall Street, large-capped companies including 3M Co
        and Caterpillar Inc         boosted the Dow        to a
record close in the previous session after posting
better-than-expected results and forecasts.     
    Copper prices hit a one-week high on Tuesday as the dollar
dipped, while Brent oil rose 1 percent after top exporter Saudi
Arabia said it was determined to end a supply glut.        
     
    The share price index futures          rose 0.3 percent or
15 points to 5,898, a 0.4-point premium to the underlying
S&P/ASX 200 index         close. The benchmark closed 0.1
percent higher on Tuesday.
    New Zealand's benchmark S&P/NZX 50 index         fell 0.2 in
early trade, dragged by a 5.3 percent drop in Fletcher Building
        . The country's biggest construction firm said it
expects to log a NZ$160 million ($110.46 million) loss in its
2018 financial year earnings.             

($1 = 1.4484 New Zealand dollars)

 (Reporting by Chris Thomas in Bengaluru; editing by Grant
McCool)
  
 
 

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