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Reuters
Reuters
Business

Australian shares set to gain; New Zealand flat

FILE PHOTO - An investor looks at a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia, July 17, 2017. REUTERS/Steven Saphore

(Reuters) - Australian shares are expected to open higher on Thursday, tracking a rise in Wall Street following a widely expected interest rate hike in the United States.

The Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, as anticipated.

The local share price index futures <YAPcm1> rose 21 points to 6048.0, a 26.2-point premium to the underlying S&P/ASX 200 index <.AXJO> close. The benchmark rose 0.14 percent on Wednesday.

New Zealand's benchmark S&P/NZX 50 index <.NZ50> fell marginally in early trade.

(Reporting by Ambar Warrick in Bengaluru; Editing by Andrew Heavens)

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