SYDNEY, July 29 (Reuters) - Australian shares looked set to open marginally higher on Friday, as Wall Street edged upward overnight as well as a rally in the price of Australia's biggest export, iron ore.
The local share price index futures YAPcm1 rose 0.1 percent to 5,525. But that was a 31.6-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark rose 0.3 percent on Thursday, reaching within a whisker of a one-year high.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell in early trade, shedding 14.42 points, or 0.2 percent, to 7,291.93 points.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ For a summary of overnight action across global markets, click on
AU/CALL For a digest of the day's business stories in Australian newspapers, click on
PRESS/AUB
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