May 6, 2018 / 10:14 PM / 20 days ago

Australia shares set to start week higher, NZ edges up

    May 7 (Reuters) - Australian shares are expected to gain at
open on Monday, helped by strength seen in oil prices and U.S.
equities on Friday.    
    Brent crude oil         ended on Friday up $1.25 at $74.87 a
barrel as global supplies remained tight and the market awaited
news from Washington on possible new U.S. sanctions against
Iran.      
    Meanwhile, the three major U.S. stock indexes rose more than
1 percent after weaker-than-expected U.S. wage growth helped to
calm investor fears about rising interest rates and inflation.
    
    The local Australian share price index futures          rose
0.6 percent on Monday, or 38 points, to 6,092, a 29.1-point
premium to the underlying S&P/ASX 200 index         close. The
benchmark fell 0.6 percent on Friday.
    New Zealand's benchmark S&P/NZX 50 index         rose 0.2
percent in early trade primarily on gains in consumer staples
and telecom services stocks.

 (Reporting by Aaron Saldanha in Bengaluru; Editing by Sandra
Maler)
  
 
 
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