Markets

Australia shares seen climbing on Greek hopes

MELBOURNE : Australian stocks are set to open higher on Tuesday, following a firm finish on Wall Street, on growing opti

Published June 27, 2011 Updated June 27, 2011 11:24pm

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By Imad Uddin

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Stock index futures rose 1.1 percent to 4,491.0, a 29.2-point premium to the underlying S&P/ASX 200 index. The benchmark fell 1 percent on Monday.

New Zealand's benchmark NZX 50 index rose 24 points, or 0.7 percent, to 3,462.1 in early trade.

National Australia Bank and Rio Tinto will be in the frame as their chief executives give speeches in Melbourne and Perth on Tuesday.

US stocks rose from three days of losses on Monday, led by banks after news of more favorable capital requirements and optimism over Greece's austerity plan, but investors cautioned against high hopes.

Copper ended lower on Monday on a lack of confidence in global growth. Gold fell as investors bet debt-laden Greece would take action needed to avoid a default, sapping safe-haven demand.

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