SYDNEY, July 30 (Reuters) - Australian shares are set to open higher on Thursday tracking gains on Wall Street after the U.S. Federal Reserve said the economy was continuing to strengthen. ID:nL1N1092AW
The resources sector is likely to see solid gains after a rebound on the Chinese stock market lifted oil and copper prices overnight. Major mining stocks could support the market after their ADRs rose overnight.
The local share price index futures YAPcm1 rose 33 points or 0.6 percent to 5,606.0, an 18.2-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark gained 39.5 points to close at 5,624.2 on Wednesday.
New Zealand's benchmark NZX 50 index .NZ50 rose 10.7 points or 0.18 percent to 5,881.4, in early trade.
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