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Australia shares to rise slightly; NZ up

Published 23/11/2016, 08:32 am
© Reuters.  Australia shares to rise slightly; NZ up
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Nov 23 (Reuters) - Australian shares are set to open marginally higher on Wednesday after all three U.S. indexes hit intraday record highs. .N

U.S. President-elect Donald Trump's promises of tax cuts, higher spending on infrastructure and less regulation in the U.S. have been seen by investors as beneficial to certain industries, including banking and healthcare.

The resources sector will likely extend gains with copper hitting a one-week high overnight and a rise in iron ore prices. MET/L IRONORE/

Local share price index futures YAPcm1 rose 0.2 percent, or 9 points, to 5,430, a 16.7-point premium to the underlying S&P/ASX 200 index .AXJO close.

Australian shares closed at a four-week high on Tuesday, as a rally in oil and metal prices boosted the mining and energy sectors. The benchmark closed 1.2 percent higher. O/R

New Zealand's benchmark S&P/NZX 50 index .NZ50 climbed 0.3 percent 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

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