Australia shares set to gain; NZ rises

May 30 (Reuters) – Australian shares were likely to open higher on Monday, extending gains from last week, with investors likely to follow a stronger Wall Street, while higher iron ore prices are expected to aid mining stocks.

The local share price index futures YAPcm1 rose 1.2%, a 88.3-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark rose 1.1% on Friday.

New Zealand’s benchmark S&P/NZX 50 index .NZ50 rose by 0.3% 2222 GMT.

(Reporting by Jaskiran Singh in Bengaluru; editing by Diane Craft)

((jaskiran.singh@thomsonreuters.com))

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