August 29, 2018 / 10:33 PM / a month ago

Australia shares set to gain on strong oil prices, NZ marks time

    Aug 30 (Reuters) - Australian shares are set to rise on
Thursday, helped by a pick up in oil prices and tracking U.S.
peers, ahead of data on July building approvals due to be
released later in the day.
    A 1.6 percent rise in Brent crude         to settle at
$77.14 on Wednesday is likely to support local energy stocks
        on Thursday. Meanwhile, Wall Street extended its rally
on Wednesday, with the S&P 500        closing near a record high
hit during the session as promising trade negotiations stoked
investor sentiment.          
    The Australian share price index futures          gained 0.3
percent, or 18 points, to 6,355, a 2.8-point premium to the
underlying S&P/ASX 200 index         close. The benchmark rose
0.8 percent on Wednesday.
    New Zealand's benchmark S&P/NZX 50 index         marked time
in early trade. Data on building consents for July is expected
later in the day.

 (Reporting by Aaron Saldanha in Bengaluru
Editing by Chris Reese)
  
 
 
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