June 15, 2020 / 10:13 PM / 2 months ago

Australia shares set to open higher tracking Wall Street rise

    By Soumyajit Saha
    June 16 (Reuters) - Australian shares are set to snap a
three-day losing run on Tuesday and track gains on Wall Street
after the U.S. Federal Reserve made changes to its corporate
bond purchasing program, while firmer oil prices should benefit
energy stocks.
    All three major U.S. stock indexes closed higher as risk
sentiment was boosted by the Fed's decision to apply an indexing
approach to its secondary market corporate credit facility.     
    Meanwhile, oil prices jumped over 2% on signs of recovery in
fuel demand and hopes of compliance from OPEC+ members on a
production cut deal.      
    The local share price index futures          rose 2.5%, at a
156.2-point premium to the underlying S&P/ASX 200 index        
close. The benchmark fell over 2% on Monday.
    In New Zealand, the benchmark S&P/NZX 50 index         was
down 0.38% to 10,864.1 in early trade.

 (Reporting by Soumyajit Saha in Bengaluru
Editing by Chris Reese)
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