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Markets

Australian shares to gain buoyed by energy stocks, NZ up

Australian shares were poised to rise on Thursday, supported by gains in the energy sector, after strong economic data f

Sep 04 2019

Australian shares were poised to rise on Thursday, supported by gains in the energy sector, after strong economic data from China drove commodity prices and Wall Street stocks higher.

Oil prices climbed as a private survey on Wednesday showed China's services sector expanded in August at its fastest pace in three months.

The Australian share price index futures gained 0.3pc to 6,555.0, a 2-point premium to the underlying S&P/ASX 200 index close.

The benchmark lost 0.3pc on Wednesday as figures showed the domestic economy grew at its slowest pace in a decade last quarter.

New Zealand's benchmark S&P/NZX 50 index inched up 0.1pc to 11,018.62 in early trade.

Copyright Reuters, 2019