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Tuesday, November 30, 2021

Australia shares set to slip on weak oil, Dalian iron ore prices; NZ up

Australia shares set to slip on weak oil, Dalian iron ore prices; NZ upSYDNEY: Australian shares are set to slip on Wednesday on weakness in oil and iron ore futures traded in Dalian, China on Tuesday.

Profit taking led to Brent crude futures dipping 0.3 percent to settle at $75.95 a barrel on Tuesday, auguring for potential weakness in Australian energy stocks, while local materials stocks may be affected by January iron ore on the Dalian Commodity Exchange slipping 0.5 percent to 482 yuan a tonne.

The Australian share price index futures was little changed, slipping 6 points to 6,270, a 34.7-point discount to the underlying S&P/ASX 200 index close. The benchmark ticked up 0.6 percent on Tuesday.

Meanwhile, New Zealand’s benchmark S&P/NZX 50 index rose about 0.4 percent to 9,252.15 in early trade.

Copyright Reuters, 2018
 

Source: Brecorder

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