SYDNEY: Australian shares are set to rise on Thursday, helped by a pick up in oil prices and tracking US peers, ahead of data on July building approvals due to be released later in the day.
A 1.6 percent rise in Brent crude to settle at $77.14 on Wednesday is likely to support local energy stocks on Thursday. Meanwhile, Wall Street extended its rally on Wednesday, with the S&P 500 closing near a record high hit during the session as promising trade negotiations stoked investor sentiment.
The Australian share price index futures gained 0.3 percent, or 18 points, to 6,355, a 2.8-point premium to the underlying S&P/ASX 200 index close. The benchmark rose 0.8 percent on Wednesday.
New Zealand’s benchmark S&P/NZX 50 index marked time in early trade. Data on building consents for July is expected later in the day.
Source: Brecorder
