MELBOURNE: Australian stocks are set to open higher on Thursday, underpinned by mining stocks on signs of a revival in the US housing market, while energy stocks are set to jump on surging oil prices, as worries about US fiscal health hurt the dollar.
Stock index futures rose 1 percent to 4,912.0, a 53-point premium to the underlying S&P/ASX 200 index. The benchmark climbed 1.4 percent on Wednesday led by the top miners.
On Wall Street, big earnings surprises gave a positive turn to investor sentiment on Wednesday, propelling US stocks to their best day in a month and lifting the Dow industrials to their highest in almost three years.
Trading in the shares of Origin Energy was halted pending announcement on its A$35 billion flagship Australia Pacific LNG project.
Copper rose to its highest in a week on Wednesday after the US housing market showed more signs of revival, strong earnings boosted US equities and the dollar hit a 15-month low against the euro.
Trading will close at 0610 GMT as normal on Thursday ahead of a five-day weekend. The market will reopen on Wednesday, April 27.
New Zealand's benchmark NZX 50 index rose 0.5 percent to 3,489.6 in early trade.
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