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Australia shares set to start with a firm tone, NZ stocks steady
August 7, 2016 / 10:56 PM / a year ago

Australia shares set to start with a firm tone, NZ stocks steady

SYDNEY, Aug 8 (Reuters) - Australian shares are set to have
a strong start on Monday following a positive lead on Wall
Street and an expected boost to mining stocks from a jump in
iron ore prices.
    Global miner BHP Billiton is expected to open 1.8
percent higher, tracking a gain in its U.S. ADRs.
    Local share price index futures rose 0.6 percent to
5,489 points, but that was still an 8.4-point discount to the
close of the underlying S&P/ASX 200 index on Friday.
    The benchmark fell 1.2 percent last week, having ended three
consecutive weeks of gains. Yet, the index was still up nearly 4
percent so far this year.
    ANZ Bank is due to release its quarterly results
later in the session as the earnings seasons kicks off.
    New Zealand's benchmark S&P/NZX 50 index open steady
in early trade, having eased 0.5 percent last week. It was still
within reach of an all-time set high earlier this month.
    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 Cecile Lefort; Editing by Wayne Cole)

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