Australia shares to rise on economic growth optimism, NZ firms

Australian shares are likely to extend gains on Thursday made over the country's better-than-expected first-quarter economic growth data, with high commodity prices expected to further lift the resource-heavy bourse.

The local share price index futures rose 0.2%, a 11.2-point premium to the underlying S&P/ASX 200 index close.

The benchmark closed 1.1% higher on Wednesday.

New Zealand's benchmark S&P/NZX 50 index rose 0.3% to 12,482.43 points in early trade.