November 22, 2015 / 9:33 PM / 4 years ago

Australia shares seen with a firm start, miners could cap gains

SYDNEY, Nov 23 (Reuters) - Australian shares are set to
start the week with a firm tone, tracking an increase on Wall
Street on expectations the Federal Reserve would gradually
increase interest rates once lift off begins.
    Mining stocks, however, could cap gains with BHP Billiton
 expected to open sharply lower after a 1.9 percent
slide in its U.S. ADRs on Friday. Prices of iron ore,
Australia's top export earner, hovered near their lowest since
2008. 
    The local share price index futures edged down 0.1
percent to 5,259, but that was a 2.9-point premium to the close
of the underlying S&P/ASX 200 index on Friday. The
benchmark leapt 4 percent last week, the second largest gain in
four years.
    New Zealand's benchmark NZX 50 index was flat in
early trade at 6,013.23, having gained 0.3 percent last week.
   For a summary of overnight action across global markets,
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  For a digest of the day's business stories in Australian 
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 (Reporting by Cecile Lefort; Editing by Andrew Bolton)
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