Australian shares to rise, as global markets waver on COVID-19 recovery doubts

Australian shares are expected to start the day higher, following a subdued overnight session across overseas markets.

ASX futures were up 40 points (+0.6pc) to 6,637 by 8:30am AEDT.

The Australian dollar slipped (-0.3pc) to 76.83 US cents.

US markets were closed for Martin Luther King Jr Day, but were last trading near record-high levels.

European markets wavered on Monday local time, as soaring COVID-19 cases offset investor hopes of a quick economic recovery, even after data showed the Chinese economy rebounded faster than expected in the fourth quarter of 2020.

Britain’s FTSE fell (-0.2pc) to 6,721 points, while Germany’s DAX rose (+0.4pc) to 13,848.

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