Dec 27 (Reuters) - Australian shares are expected to open higher on Thursday on the back of a sharp rebound on Wall Street, while energy stocks are also set to gain as oil prices surge.
U.S. stocks gained following the Christmas holiday on Wednesday, fueled by a surge in retail shares, while oil posted its strongest daily gain in more than two years. .N O/R
The local share price index futures YAPcm1 rose 0.7 percent, an 80.8-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark had closed 0.5 percent higher on Monday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 edged higher in early trade.