May 6, 2020 / 10:35 PM / a month ago

Australia shares set to fall at open, NZ ticks up

    May 7 (Reuters) - Australian shares were on course for a
second day of losses on Thursday, with energy and gold stocks
likely to drop following an overnight slump in the prices of
underlying commodities. 
    Oil dropped 4% to below $30 a barrel on Wednesday as U.S.
crude stockpiles and diesel inventories rose, while gold fell
more than 1% on expectations of a gradual improvement in risk
appetite as many countries begin to ease coronavirus
restrictions.             
    The local share price index futures          fell 0.9% or 48
points to 5,396, a 36.6-point discount to the underlying S&P/ASX
200 index         close. The benchmark fell 0.4% on Wednesday. 
    New Zealand's benchmark S&P/NZX 50 index         rose 0.2%
to 10,589.9 in early trade.
       

 (Reporting by Arundhati Dutta in Bengaluru
Editing by Chris Reese)
  
 
 
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