July 12, 2020 / 10:55 PM / 22 days ago

Australia shares set to track Wall Street higher; NZ rises

    July 13 (Reuters) - Australian shares are set to open higher
on Monday, with gains in U.S. peers likely to offset investor
fears regarding a surge in coronavirus cases in the state of
Victoria. 
    The Nasdaq         posted its sixth record closing high in
seven days on Friday, as an analysis of Gilead Sciences Inc's
         antiviral drug to treat COVID-19 yielded positive
results.     
    Victoria, however, marked a week of triple-digit increases 
in new coronavirus infections on Sunday, while an outbreak in
New South Wales put the state on high alert.             
    The local share price index futures          rose 1.6%, a
51.8-point premium to the underlying S&P/ASX 200 index        
close. The benchmark fell 0.6% on Friday. 
    New Zealand's benchmark S&P/NZX 50 index         rose 0.5%
to 11,455.66 in early trade. 
    
       

 (Reporting by Arundhati Dutta in Bengaluru; Editing by Peter
Cooney)
 
 
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