Money Australia shares to inch higher, NZ up

05:56  03 july  2018
05:56  03 july  2018 Source:   reuters.com

Australia shares seen falling; NZ rises

  Australia shares seen falling; NZ rises Australian shares are set to open lower on Thursday, tracking Wall Street, but higher energy stocks backed by robust oil prices are expected to cap losses. Oil prices jumped on Wednesday as plunging U.S. crude stockpiles compounded supply worries in a market already uncertain about Libyan exports, a production disruption in Canada and Washington's demands that importers stop buying Iranian crude from November. The local share price index futures (YAPcm1) fell 0.18 pct or 11 points to 6,127, a 69.9-point discount to the underlying S&P/ASX 200 index (.AXJO) close. The benchmark remained largely unchanged on Wednesday.

Australian shares are set to open slightly higher on Friday, reflecting modest gains in European markets, and with miners standing to gain from the continuing base metals rally led by copper and zinc. European shares rose marginally on Thursday, with most of the main bourses inching up on gains

Australian shares ended higher for athird straight session on Thursday as gains in commodity pricesboosted mining and oil stocks such as BHP Billiton and RioTinto. In New Zealand , the benchmark S&P/NZX 50 index rose 0.3 percent, or 20.69 points, to close at 7,151.99.

A pedestrian is reflected in a window displaying a board with stock prices at the Australian Securities Exchange (ASX) in Sydney © REUTERS/Steven Saphore - RC1F426BF4E0 A pedestrian is reflected in a window displaying a board with stock prices at the Australian Securities Exchange (ASX) in Sydney Australian shares are set to edge higher on Tuesday, tracking Wall Street, as weakness in the Australian dollar could prompt buying in healthcare stocks ahead of the Reserve Bank of Australia's cash rate decision due later in the day.

The Aussie dollar hovered near recent lows on Monday, while the country's central bank is seen holding rates at record lows until next September, according to a Reuters poll.

The local share price index futures (YAPcm1) rose 0.34 percent or 21 points to 6158, a 19.8-point discount to the underlying S&P/ASX 200 index (.AXJO) close. The benchmark fell about 0.3 percent on Monday.

New Zealand's benchmark S&P/NZX 50 index (.NZ50) rose 0.4 percent at 2216 GMT.

(Reporting by Mensholong Lepcha; Editing by Lisa Shumaker)

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