February 3, 2019 / 9:45 PM / 4 months ago

Australia shares to rise as upbeat U.S. data boosts sentiment; NZ down

    Feb 4 (Reuters) - Australian shares are poised to rise on
Monday, tracking Wall Street's strong performance on Friday as
upbeat U.S. employment and manufacturing data lifted sentiment,
while miners look set to benefit from firm iron ore prices.
    Mining stocks will likely underpin gains and extend their
rally to a sixth day after iron ore surged to a 22-month peak in
the aftermath of Brazil's mining disaster, which prompted top
iron ore miner Vale SA            to cut production.           
    The local share price index futures          rose 0.4
percent or 20 points at 2107 GMT, a 41.8-point discount to the
underlying S&P/ASX 200 index         close. The benchmark closed
little changed on Friday.
    New Zealand's benchmark S&P/NZX 50 index         fell 0.07
percent or 6.14 points to 8,993.03 in early trade.
    
       

 (Reporting by Rashmi Ashok in Bengaluru
Editing by Sonya Hepinstall)
  
 
 
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