Australia shares seen edging up as oil prices firm; NZ up

SYDNEY: Australian shares are expected to recover from two straight sessions of falls on Friday, latching on to solid leads from Wall Street inspired by higher oil prices.

Wall Street surged to record highs on Thursday on the back of rising oil prices and as investors bet on a strong US corporate earnings season. Oil settled at three-year highs on signs that global inventories were tightening.

The local share price index futures rose 0.3 percent or 17 points to 6,030, a 37.6-point discount to the underlying S&P/ASX 200 index close. The benchmark fell 0.5 percent on Thursday.

New Zealand's benchmark S&P/NZX 50 index inched 0.2 percent higher in early trade.