July 7, 2020 / 10:38 PM / in a month

Australia shares set to fall as Melbourne lockdown dents sentiment, NZ up

    July 8 (Reuters) - Australian shares were poised to open
lower on Wednesday as lockdown measures were brought back in
Melbourne following a recent spike in coronavirus cases,
dampening hopes of economic recovery.
    Investor sentiment took a hit after lockdown measures were
reimposed in the country's second largest city on Tuesday,
confining residents to their homes unless undertaking essential
business for six weeks.              
    Meanwhile, Wall Street ended lower overnight as the greater
Miami area in Florida became the latest U.S. coronavirus hot
spot to roll back its reopening.                  
    The local share price index futures          fell 0.5%, a
53.9-point discount to the underlying S&P/ASX 200 index        
close. The benchmark settled down 0.03% at 6,012.9 on Tuesday.
    In New Zealand, the benchmark S&P/NZX 50 index         was
up 0.5% to 11,804.2 points in early trade. 
    
       

 (Reporting by Shruti Sonal in Bengaluru
Editing by Chris Reese)
  
 
 
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