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Australia shares expected to fall as commodities tumble, NZ down
April 18, 2017 / 10:22 PM / 8 months ago

Australia shares expected to fall as commodities tumble, NZ down

    April 19 (Reuters) - Australian shares are poised to fall on
Wednesday as commodity prices tumble amid geopolitical issues
and oversupply worries.
    Copper, lead and zinc hit three-month lows as geopolitical
tensions hurt investor appetite for base metals while iron ore
fell to its weakest since January on worries of
oversupply.                  
    Oil prices fell, with U.S. crude prices down over a percent
in post settlement trade after the American Petroleum Institute
(API) indicated crude stockpiles fell less than analysts had
forecast, in its weekly data.      
    Sentiment is also expected to be affected by Wall Street,
which fell overnight on poor quarterly results of blue chips
like Goldman Sachs Group        and Johnson & Johnson        .
    The local share price index futures          fell by 38
points, or 0.7 percent, to 5790, a 46.7-point discount to the
underlying S&P/ASX 200 index         close. The benchmark fell
0.9 percent on Tuesday.
    New Zealand's benchmark S&P/NZX 50 index         fell 0.2
percent, or 11.08 points, to 7222.53 in early trade.

    
 (Reporting by Hanna Paul in Bengaluru; Editing by Chris Reese)
  
 
 

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