SYDNEY: Australian shares are expected to open higher on Friday, helped by improving metals prices and oil prices closing at their highest since the summer of 2015.
OPEC has started working on plans for an exit strategy from its deal to cut crude supplies, fueling hopes it would not end supply cuts abruptly. Meanwhile, aluminium prices hit six-week peaks on Thursday as data showing lower output in China reinforced expectations of tighter supplies.
The local share price index futures rose 0.2 percent, or 13 points, to 6,028, a 32.4-point discount to the underlying S&P/ASX 200 index close. The benchmark fell 0.3 percent on Thursday.
New Zealand’s benchmark S&P/NZX 50 index fell as much as 0.2 percent in early trade, with industrials and materials stocks pulling the index lower.
Source: Brecorder.com
