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PrintAustralian shares are set to rise on Friday, possibly topping five-year highs hit last week after Wall Street snapped a five-day losing streak, but a drop in iron-ore prices to near three-month lows may hurt big-cap mining stocks.
* Local share price index futures rose 0.2 percent, a 19.5-point premium to the underlying S&P/ASX 200 index close. The benchmark advanced 0.4 percent on Thursday. It rose to an intraday five-year high of 5,300.1 on Sept. 19.
* New Zealand's benchmark NZX 50 index rose 0.1 percent in early trade.
* The S&P 500 and Dow snapped five-day losing streaks on Thursday on positive job market data but gains were limited as investors worried if Washington lawmakers would pass bills to avoid a government shutdown and possible U.S. debt default on time.
* Copper edged higher supported by improving demand in top consumer China, but renewed worries over the U.S. fiscal outlook and federal debt kept gains in check.
* Gold fell as a rise in the dollar and mixed U.S. economic indicators prompted investors to take profits after gains in the previous session.
* Shanghai rebar futures slipped to their lowest level since early July, pressured by slack demand, although prices of raw material iron ore were at a more than one-week top as Chinese steel mills kept production high.
* Australia's new government has ordered 47 major coal and coal seam gas projects to seek national environmental approval, including the controversial Kevin's Corner project proposed by the country's richest person Gina Rinehart.
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