February 6, 2018 / 9:23 PM / 9 months ago

Australia shares set to recover; NZ falls

    Feb 7 (Reuters) - Australian shares are expected to recover
on Wednesday after the central bank struck an upbeat tone about
the country's economy on Tuesday, outlining a steady path ahead
even as global equities plunged.
    The Reserve Bank of Australia's optimism was underpinned by
solid economic data in recent weeks, topped by strong
fourth-quarter retail sales figures which implied stronger
household consumption.             
    The local share price index futures          rose 98 points
to 5,862, a 28.7-point premium to the underlying S&P/ASX 200
index         close. The benchmark plunged 3.2 percent on
Tuesday.
    New Zealand's benchmark S&P/NZX 50 index         fell 2
percent to a 2-1/2 month low, in early trade.

 (Reporting by Ambar Warrick in Bengaluru; Editing by Hugh
Lawson)
  
 
 
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