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.


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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