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Australia shares face weaker opening, miners to soar

Published 05/02/2016, 08:52 am
Updated 05/02/2016, 09:00 am
© Reuters.  Australia shares face weaker opening, miners to soar
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MELBOURNE, Feb 5 (Reuters) - Australian shares are set to open lower on Friday, with investors wary ahead of the onslaught of half-year results, however mining stocks are poised for a second day of strong gains on higher iron ore, copper and gold prices.

Pointing to a weaker start, local share price index futures YAPcm1 fell 0.3 percent to sit at a 61.4-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark rose 1.9 percent on Thursday.

New Zealand's benchmark S&P/NZX 50 index .NZ50 slipped 3.2 points to 6,140.91 in early trade.

Top miners BHP Billiton (L:BLT) BHP.AX and Rio Tinto (L:RIO) RIO.AX rocketed more than 10 percent in London overnight and are poised to open more than 3 percent higher on the Australian market.

Whitehaven Coal WHC.AX is due to report its half-year results on Friday, with it expected to deliver earnings before interest, tax, depreciation and amortisation between A$100 million and A$105 million.

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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