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)


© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.