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Australia shares tipped to follow global equities higher, NZ rises

Published 29/09/2020, 07:45 am
© Reuters.
AXJO
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NZ50
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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.

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