Australian shares are set to open firmer on Tuesday, tracking Wall Street, on rallies in metals and oil prices, with top miner BHP Billiton (LON:BLT) BHP.AX poised to jump more than 1.5 percent.
Oil prices soared 4 percent to a three-week high on Monday, buoyed by growing conviction that major oil producing countries would agree to limit output next week. O/R
Gains were also seen in metals, led by copper, on expectations of improving appetite from top consumer China and higher demand from the U.S. market as the dollar pared recent gains. MET/L
The local share price index futures YAPcm1 rose 0.7 percent to 5,393, a 41.7-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark fell 0.2 percent on Monday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 climbed 0.4 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