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Australia shares set to rise, resources may drag
March 12, 2015 / 9:47 PM / 3 years ago

Australia shares set to rise, resources may drag

SYDNEY, March 13 (Reuters) - Australian shares were set to
open higher on Friday, following a rally in the previous session
fuelled by optimism on domestic growth, but gains may be
tempered by resources stocks hurt by weaker coal and oil prices.
    The local share price index futures rose 0.2
percent to 5,859.0, an 8.8-point premium to the underlying
S&P/ASX 200 index close. The benchmark climbed 1 percent
on Thursday, its biggest rise in a month.
    New Zealand's benchmark NZX 50 index rose 0.1
percent to 5,893.3 in early trade.
    The telecoms sector will be in the frame after Internet
service provider iiNet Ltd accepted a A$1.4 billion
takeover offer from TPG Telecom Ltd, pitched at a 26
percent premium to iiNet's last trade. 
    For a summary of overnight action across global markets,
double click on 
    For a digest of the day's business stories in Australian 
newspapers, double click on 

 (Reporting by Sonali Paul; Editing by Andrew Heavens)

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