Australian shares set to open higher on central bank rate cut hopes

• Australian shares are set to open higher on Friday.
• The benchmark rose 0.5pc on Thursday.
• New Zealand's benchmark S&P/NZX 50 index rose 0.1pc in early trade.

Australian shares are set to open higher on Friday as investor sentiment found support on expectations of more central bank stimulus, following weak employment data.

Energy stocks will also likely firm as oil prices rose overnight on fears that the strikes on Saudi Arabia's oil facilities could result in a longer-than-expected supply disruptions.

The local index futures rose 0.15pc, a 3.5-point premium to the underlying S&P/ASX 200 index close. The benchmark rose 0.5pc on Thursday.

New Zealand's benchmark S&P/NZX 50 index rose 0.1pc in early trade.