SYDNEY: Australian shares are set to start Monday and the week on a steady note, after a tumultuous prior week featured Scott Morrison, the country’s treasurer since 2015, being named prime minister.
A 1.5 percent rise in Brent crude prices on Friday may underpin local energy stocks on Monday while materials stocks may take heart from iron ore futures traded in Dalian, China gaining 0.3 percent on Friday, stemming a three-day fall.
The Australian share price index futures was little changed, slipping 1 point to 6,220, a 27.3-point discount to the underlying S&P/ASX 200 index close. The benchmark ticked up 0.1 percent on Friday.
Meanwhile, New Zealand’s benchmark S&P/NZX 50 index rose about 0.2 percent in early trade.
Source: Brecorder
