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Australia shares to inch up on oil; NZ flat

Published 21/11/2016, 08:32 am
© Reuters.  Australia shares to inch up on oil; NZ flat
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Nov 21 (Reuters) - Australian shares are set to open marginally higher on Monday, with energy stocks expected to gain from a rise in oil prices and miners seen impacted by the fall in copper, gold and iron ore prices.

Oil prices settled higher on Friday on growing expectations that the Organization of the Petroleum Exporting Countries will find a way to cap production at the end of the month. O/R

Copper and gold fell on a surging dollar while spot iron ore prices slid on signals of slower Chinese demand. GOL/ MET/L IRONORE/

Local share price index futures YAPcm1 rose 0.1 percent, or 7 points, to 5,369, a 9.6-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark ended 0.3 percent higher on Friday.

New Zealand's benchmark S&P/NZX 50 index .NZ50 was flat at 2118 GMT.

For a summary of overnight action across global markets, double click on AU/CALL

For a digest of the day's business stories in Australian newspapers, double click on PRESS/AUB

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