May 7, 2020 / 10:28 PM / 18 days ago

Australia shares set to inch higher, NZ up

    May 8 (Reuters) - Australian shares are set to inch higher
on Friday, tracking gains in U.S. stocks which rose after a
number of upbeat earnings reports led by PayPal, while positive
economic data from China is also likely to boost sentiment.   
    All major indices on Wall Street clocked in gains, with the
Nasdaq erasing all losses accrued in 2020. Elsewhere, China's
exports for April came in far stronger than expected, signaling
swift recovery after the coronavirus pandemic.                  
    The local share price index futures          added 0.09% or
5 points, a 8.8-point premium to the underlying S&P/ASX 200
index         close. The benchmark fell 0.4% on Thursday.
    New Zealand's benchmark S&P/NZX 50 index         rose 0.3%
to 10,678.37 in early trade.

 (Reporting by Arundhati Dutta in Bengaluru
Editing by Chris Reese)
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