SYDNEY, Sept 3 — Australian shares are expected to extend gains today,  spurred by a rally on Wall Street, while steady iron ore prices and a stronger oil price will support resources and energy-related stocks.

Local share price index futures rose 0.6 per cent overnight to 5,081 points, a 20.5-point discount to the underlying S&P/ASX 200 index.

Yesterday, the benchmark edged up 5.09 points to 5,101.5, a day after finishing at its lowest level since Aug. 24.

The index has fallen 5.7 per cent so far this year, after posting its biggest monthly decline since late 2008 in August.

Investors will keep an eye on Australia trade balance and retail sales data due 11:30am.

New Zealand’s benchmark NZX 50 index rose 0.67 per cent to 5,627.43 points in early trade. — Reuters