MELBOURNE, May 23: Australian shares are set to open a touch higher on Monday following a solid finish on Wall Street last week, though weaker gold, metals and oil prices, hurt by a stronger U.S. dollar, may weigh on resources stocks. Local share price index futures inched up 0.1 percent to 5,360.0, an 8.7-point premium to the underlying S&P/ASX 200 index close. The benchmark rose 0.5 percent last Friday.
New Zealand’s benchmark S&P/NZX 50 index slipped 4.7 points to 6,905.2 in early trade. Bluescope Steel shares may get a lift after it raised its forecast for second-half underlying earnings before interest and tax to A$270 million ($195 million) from an earlier forecast of around A$205 million.
(AGENCIES)
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