March 27, 2017 / 9:20 PM / 4 months ago

Australia shares to edge up; NZ slightly higher

2 Min Read

    March 28 (Reuters) - Australian shares are expected to inch
slightly higher on Tuesday, as investors remain hopeful that the
U.S. healthcare reform bill's failure will pave the way for
quicker action on the rest of President Donald Trump's agenda.
    Material stocks are seen continuing their downward slide,
thanks to Chinese steel and iron ore futures sinking to February
lows amid concerns about growing inventories.           
    Oil prices fell as investors remained uncertain whether
producing nations would extend an OPEC-led output cut beyond the
end of June in an effort to reduce a global glut.      
    The local share price index futures          rose 0.3
percent, or 16 points at 5,752, a 5.3-point premium to the
underlying S&P/ASX 200 index         close. 
    The benchmark closed 6.85 points or 0.12 percent lower on
Monday.
    New Zealand's benchmark S&P/NZX 50 index         rose
marginally by 2106 GMT.
    
For a summary of overnight action across global markets, double
click on          
       
For a digest of the day's business stories in Australian 
newspapers, double click on            

 (Reporting by Krishna V Kurup in Bengaluru; Editing by James
Dalgleish)
  
 
 

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