Australia shares likely to rise tracking Wall Street overnight; NZ flat
July 7 (Reuters) - Australian shares may be heading for a positive start on Thursday, likely tracking their Wall Street peers as investors digest the U.S. Federal Reserve's firm stance to tame rising cost pressures even if it meant slow economic growth.
The local share price index futures YAPcm1 rose 0.6%, a 62.5 point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark fell 0.5% on Wednesday.
Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index .NZ50 was flat in early trade.
Reporting by Archishma Iyer in Bengaluru
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