Views Article – Sharenet Wealth

Australasia, News

Australia shares set to open lower; NZ rises

By Soumyajit Saha June 22 (Reuters) – Australian shares are likely to open lower on Monday as the rising number of coronavirus cases at home and around the world diminish hopes of a quick recovery from the pandemic-induced economic downturn. The state of Victoria on Sunday extended its state of emergency, faced with a spike in infections, while a senior U.S. Federal Reserve official said on Friday that economic recovery from the crisis could take longer than expected, and potentially include a second wave of infections. The local share price index futures fell 1.3%, an 88.6-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.1% on Friday. In New Zealand, the benchmark S&P/NZX 50 index was up 0.26% in early trade. (Reporting by Soumyajit Saha in Bengaluru; Editing by Peter Cooney)

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