Australian shares are expected to start the week firmer on Monday, following a strong lead from Wall Street as investors took heart from strong US jobs data and dovish remarks from Federal Reserve Chairman Jerome Powell.

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All three major US stock indexes surged more than 3 percent on Friday in one of the broadest advances in years after a strong employment report and Powell’s pledge that the central bank would be patient with its monetary policy.

That soothed markets that had been roiled by concerns over a global slowdown.

The local share price index futures rose 1.2 percent to 5,631, a 11.6-point premium to the underlying S&P/ASX 200 index close. The benchmark fell 0.3 percent on Friday.

New Zealand’s benchmark S&P/NZX 50 index rose 0.1 percent or 11.39 points to 8,743.76 in early trade.

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