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Australia shares seen steady; global mood improves
Thursday July 2, 10:19 AM
SYDNEY, July 2 (Reuters) - Australian shares are seen making a steady start on Thursday, following modest gains on Wall Street after manufacturing data around the world restored some confidence that an economic recovery was on track.
Surveys from Europe showed manufacturing was shrinking less than initially thought, while a report from China showed the sector was growing modestly.
In the United States, the Institute of Supply Management's index of national factory activity nudged up to 44.8 in June from 42.8 in May, but still pointed to contraction. [ID:nN01366244]
Australian September share price futures rose 16 points to 3,877 YAPcm1 to settle at a modest 0.1 percent premium to the close of the physical index on Wednesday, when the market fell 2.1 percent.
The top miners could gain after copper prices surged. BHP Billiton (ASX: BHP.ax) is seen gaining around 1.3 percent based on trade in its New York listing.
International trade data for May is out at 0130 GMT.
New Zealand's benchmark NZX 50 index .NZ50 was up 9.1 points, or 0.3 percent, at 2,789.4 in early trade.
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