Sept 29 (Reuters) - Australian shares are set to rise on Tuesday amid a rally in global equities, with miners and gold stocks likely to lift the benchmark on the back of a jump in underlying commodity prices.
Global equity markets surged on Monday in what some analysts called a 'relief rally', recovering from last week's sharp selloff. MKTS/GLOB
The gold bullion and iron ore prices recorded significant overnight gains. GOL/ IRONORE/
The local share price index futures YAPcm1 rose 0.6%, a 29.7-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark fell 0.2% on Monday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.6% in early trade.