Feb 1 (Reuters) - Australian shares are set to edge higher on Friday, tracking a jump on Wall Street fueled by strong earnings, while firm iron ore prices are also likely to benefit mining stocks.
Mining stocks look set to extend their rally to a fifth day after iron ore prices climbed to their highest in nearly 17 months on Thursday over supply concerns following a mining disaster in Brazil. IRONORE/
The local share price index futures YAPcm1 rose 11 points or 0.2 percent at 2103 GMT, a 49.7-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark shed 0.4 percent on Thursday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.03 percent or 2.72 points to 8,988.06 in early trade.