SYDNEY, Oct 16 (Reuters) - Australian shares are poised to open higher taking a positive lead from Wall Street though gains could be capped due to falling iron ore prices.
BHP Billiton (L:BLT) BHP.AX is expected to open lower after its ADR fell 0.4 percent.
Global miner Rio Tinto (L:RIO) RIO.AX is set to release 3rd quarter production report later today.
The local share price index futures YAPcm1 rose 0.40 points to 5,247, a 17.0-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark ended 0.6 percent higher at 5,230.0 in the previous session.
New Zealand's benchmark NZX 50 index .NZ50 gained 0.4 percent, or 25.2 points, to 5,800.8 in early trade.
U.S. industrial production, consumer sentiment and capital flows data will be released later today.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ For a summary of overnight action across global markets, click on
AU/CALL For a digest of the day's business stories in Australian newspapers, click on
PRESS/AUB
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