January 12, 2017 / 9:20 PM / 10 months ago

Australia shares likely to open lower; NZ flat

Jan 13 (Reuters) - Australian shares are set to open
slightly lower on Friday, tracking Wall Street which slid as
investors awaited details of President-elct Donald Trump's
economic policy, though materials and energy stocks could soften
the benchmark's decline. 
    Financials led the decline on the S&P 500 index and
Australian banks may follow suit. 
    Oil rose on supply cuts and record China demand forecast,
base metals gained on the weakening dollar, while iron ore was
lifted by Beijing's campaign to shave excess steel production
capacity.   
    Local share price index futures rose 0.1 percent,
or 7 points, to 5,735, a 31.9-point discount to the underlying
S&P/ASX 200 index close. The benchmark fell 0.1 percent
in the previous session.
    New Zealand's benchmark S&P/NZX 50 index treaded
water in early trade.
    
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 Geo Tharappel in Bengaluru; editing by Richard
Lough)

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