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Markets

Australia shares set to open higher as miners poised to ride iron ore rally

  • The local share price index futures rose 0.4%, a 26.8-point premium to the underlying S&P/ASX 200 index close.
Published December 17, 2020

Australian shares were likely to rise at the opening on Thursday, with miners set to gain as iron ore prices soar, while broader risk sentiment was bolstered as US policymakers neared a potential stimulus package.

US congressional negotiators were "closing in on" a $900 billion COVID-19 aid bill and Congress could start voting within 24 hours, lawmakers and aides said. The US Federal Reserve reiterated a pledge to keep its benchmark interest rate near zero.

The local share price index futures rose 0.4%, a 26.8-point premium to the underlying S&P/ASX 200 index close.

The benchmark fell 0.7% on Wednesday.

New Zealand's benchmark S&P/NZX 50 index rose 0.3% by 2120 GMT.

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