January 23, 2018 / 9:11 PM / 4 months ago

Australia shares seen edging up; NZ rises

    Jan 24 (Reuters) - Australian shares are poised to edge
higher on Wednesday, inspired by gains on Wall Street, while
weaker iron ore and base metal prices might weigh down material
stocks.
    U.S. stocks advanced on Tuesday, as strong results from
Netflix          helped lift the S&P 500        and Nasdaq
Composite        .     
    Chinese iron ore futures dropped 4 percent overnight, while
copper prices fell to their lowest in a month after rising
inventories showed healthy supplies of refined metal.           
       
    The local share price index futures          rose 0.3
percent or 17 points to 6,003, a 34-point discount to the
underlying S&P/ASX 200 index         close. The benchmark rose
45.1 points on Tuesday.
    New Zealand's benchmark S&P/NZX 50 index         rose 0.2
percent to 8,325.18 in early trade.
    
       

 (Reporting by Sandhya Sampath in Bengaluru; Editing by Alison
Williams)
  
 
 
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