January 6, 2019 / 9:38 PM / 5 months ago

Australia shares set to open higher on Wall Street's lead, but NZ tepid

    Jan 7 (Reuters) - Australian shares are expected to start
the week firmer on Monday, following a strong lead from Wall
Street as investors took heart from strong U.S. jobs data and
dovish remarks from Federal Reserve Chairman Jerome Powell. 
    All three major U.S. stock indexes surged more than 3
percent on Friday in one of the broadest advances in years after
a strong employment report and Powell's pledge that the central
bank would be patient with its monetary policy.              
    That soothed markets that had been roiled by concerns over a
global slowdown.
    The local share price index futures          rose 1.2
percent to 5,631, a 11.6-point premium to the underlying S&P/ASX
200 index         close. The benchmark fell 0.3 percent on
Friday. 
    New Zealand's benchmark S&P/NZX 50 index         rose 0.1
percent or 11.39 points to 8,743.76 in early trade.

 (Reporting by Aditya Soni in Bengaluru; Editing by Jan Harvey)
  
 
 
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