Australia shares set to slip on weak oil, Dalian iron ore prices; NZ up
Aug 29 (Reuters) - Australian shares are set to slip on
Wednesday on weakness in oil and iron ore futures traded in
Dalian, China on Tuesday.
Profit taking led to Brent crude futures dipping 0.3
percent to settle at $75.95 a barrel on Tuesday, auguring for
potential weakness in Australian energy stocks , while
local materials stocks may be affected by January iron
ore on the Dalian Commodity Exchange slipping 0.5
percent to 482 yuan a tonne.
The Australian share price index futures was little
changed, slipping 6 points to 6,270, a 34.7-point discount to
the underlying S&P/ASX 200 index close. The benchmark
ticked up 0.6 percent on Tuesday.
Meanwhile, New Zealand's benchmark S&P/NZX 50 index
rose about 0.4 percent to 9,252.15 in early trade.
(Reporting by Aaron Saldanha in Bengaluru
Editing by Chris Reese) 2018-08-29 00:22:32
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