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Australia shares set to tread water, NZ flat
January 5, 2017 / 9:25 PM / 8 months ago

Australia shares set to tread water, NZ flat

Jan 6 (Reuters) - Australian shares are expected to trade
flat at Friday's open, as a rebound in oil prices encourages
investors to buy despite a dip in U.S. equities.
    Oil prices rose on Thursday in an up-and-down session,
buoyed by news that Saudi Arabia had cut production to meet
OPEC's agreement to reduce output after prices fell on data
showing a surprisingly large spike in U.S. gasoline and
distillate inventories. 
    The local share price index futures rose 0.2
percent to 5,725, a 28.4-point discount to the underlying
S&P/ASX 200 index close. The benchmark edged up 0.3
percent on Thursday.
    New Zealand's benchmark S&P/NZX 50 index was flat in
early trade.
    For a summary of overnight action across global markets,
double click on 
    For a digest of the day's business stories in Australian 
newspapers, double click on 

 (Reporting by Hanna Paul in Bengaluru; Editing by Dominic
Evans)

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