OREANDA-NEWS. February 20, 2015. Australian shares are set to open cautiously on Friday with weaker oil and nickel prices weighing on resources stocks, while more earnings, including from gas producer Santos and health insurer Medibank, will help set the tone.

The local share price index futures rose 0.1 percent to 5,873.0 to sit at a 31.2-point discount to the underlying S&P/ASX 200 index close. The benchmark fell 0.2 percent on Thursday. New Zealand's benchmark NZX 50 index inched up 1.6 points to 5,727.8 in early trade.

Shares in Telstra Corp Ltd will be in the frame after it announced the surprise retirement of Chief Executive David Thodey after nearly six years in the job. Telstra has promoted CFO Andy Penn to replace Thodey on May 1.