June 2 (Reuters) - Australian shares are expected to open higher on Friday, tracking Wall Street which rose after a batch of economic data suggested that the economy was picking up speed. .N
Gains are however expected to be kept in check as concerns about an oversupplied commodity market continue to drag down prices. O/R IRONORE/ MET/L
The local share price index futures YAPcm1 rose 0.3 percent, or 17 points to 5,770, a 31.9-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark rose 0.2 percent on Thursday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.03 percent, or 1.96 points,to 7,448.94 at 2204 GMT
For a digest of the day's business stories in Australian newspapers, click on PRESS/AUB