Australia shares seen opening higher
SYDNEY: Australian stocks are seen opening higher, backed by stronger metals prices after global stocks rallied on Friday on news that US factory activity expanded more than expected in June.
Stock index futures rose 1 percent to 4,634 points, a 42.8 point premium to the close of the underlying S&P/ASX 200 index.
The pace of growth in the US manufacturing sector picked up for the first time in four months in June, a sign of optimism for the sputtering economy, according to an industry report released on Friday.
Shares in Treasury Wine Estates, a spin off of brewer Fosters Group will be in focus after reports that China's Bright Foods was considering a bid for it.
Karoon Gas will also attract attention after it said it received government approval to commence drilling in the Browse Basin.
New Zealand's benchmark NZX 50 index rose 0.3 percent to 3,486.5 points in early trade.
Copyright Reuters, 2011
Comments
Comments are closed for this article.