Australia, NZ: NZ stocks drift up, Australia set for quiet start

[SYDNEY] New Zealand stocks opened a touch firmer on Monday while their Australian counterparts are set to follow suit though many will be looking for fresh inspiration after a weekend meeting of G-20 policymakers ended with no new action to spur global growth.

New Zealand's benchmark S&P/NZX 50 index edged up 0.2 per cent, or 11.8 points, to 6,236.75 in early trade. It was at its highest level in nearly two months.

Pointing to a pedestrian start for Australia, share price index futures drifted up 0.1 per cent to 4,860.0, a 20-point discount to the underlying S&P/ASX 200 index close. The benchmark slid 1.5 per cent last week.

REUTERS