Nov 12 (Reuters) - Australian shares are set to extend gains on Tuesday, with investor focus likely to be on the country's biggest lender Commonwealth Bank of Australia's first quarter results, while a drop in iron ore prices may put pressure on the miners.
Commonwealth Bank of Australia CBA.AX reported a 9.6% drop in first-quarter cash profit on Tuesday, as record-low interest rates squeezed margins. local share price index futures YAPcm1 rose 0.1%, a 0.5-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark rose 0.7% on Monday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 was up 0.1% by 2134 GMT.