Nov 30 (Reuters) - Australian shares are set to rise slightly on Wednesday, tracking a positive lead from Wall Street, while miners and energy stocks are expected to come under pressure from sliding base metals and oil prices.
Wall Street edged higher on Tuesday, led by health stocks, as better-than-expected U.S. economic growth figures boosted sentiment. .N
Overnight, oil prices tumbled nearly 4 percent on doubts over whether OPEC will agree to cut production, while the rally in steel and iron ore prices was stemmed by Chinese exchanges stepping in to tame speculative trade. O/R IRONORE/
Lead and zinc fell more than 6 percent on Tuesday from the previous day's multi-year peaks on selling on the view that a post-U.S. election rally had become overstretched. Copper CMCU3 closed down 3 percent. MET/L
Local share price index futures YAPcm1 rose 0.1 percent, or 5 points, to 5,467, a 9.5-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark closed 0.13 percent lower on Tuesday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 was flat 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