Oct 25 (Reuters) - Australian shares are expected to open in positive territory on Wednesday, taking heart from upbeat performances on Wall Street, while a rally in oil and base metal prices is also expected to support energy and material stocks.
On Wall Street, large-capped companies including 3M Co MMM.N and Caterpillar Inc (NYSE:CAT) CAT.N boosted the Dow .DJI to a record close in the previous session after posting better-than-expected results and forecasts. .N
Copper prices hit a one-week high on Tuesday as the dollar dipped, while Brent oil rose 1 percent after top exporter Saudi Arabia said it was determined to end a supply glut. MET/L O/R
The share price index futures YAPcm1 rose 0.3 percent or 15 points to 5,898, a 0.4-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark closed 0.1 percent higher on Tuesday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.2 in early trade, dragged by a 5.3 percent drop in Fletcher Building FBU.NZ . The country's biggest construction firm said it expects to log a NZ$160 million ($110.46 million) loss in its 2018 financial year earnings. ($1 = 1.4484 New Zealand dollars)