November 6, 2017 / 9:18 PM / a year ago

Australia shares poised for higher open; NZ slightly down

    Nov 7 (Reuters) - Australian shares are expected to open
higher on Tuesday, taking cues from Wall Street, which closed at
a record high, and a jump in oil prices as Saudi Arabia's crown
prince cemented his power over the weekend with an
anti-corruption crackdown.
    U.S. stocks hit new highs on Monday amid optimism about
merger activity and as investors bet that a Republican plan to
cut corporate taxes would bolster earnings.     
    The local share price index futures          rose 0.5
percent, or 28 points, to 5,961, a 7.8 discount to the
underlying S&P/ASX 200 index         close. The benchmark fell
0.1 percent on Monday.
    Australia's central bank holds its monthly policy meeting
later and is expected to keep its cash rate at a record low of
1.5 percent, a Reuters poll of economists found.             
    New Zealand's benchmark S&P/NZX 50 index         was a shade
lower at 8,038.94, down 0.18 percent, in early trade, with
consumer staples hurting the most.

 (Reporting by Sandhya Sampath in Bengaluru; Editing by
Catherine Evans)
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