November 28, 2016 / 9:35 PM / 9 months ago

Australia shares poised for a cautious start; NZ down

Nov 29 (Reuters) - Australian shares are likely to start
Tuesday's session cautiously, as U.S. stocks snapped recent
gains following president-elect Donald Trump's victory, while
gold and oil stocks are expected to provide some support.
    U.S. stocks fell modestly on Monday, weighed down by
declines in the financial and consumer discretionary sectors, as
some investors booked profits on the heels of a record-setting
week. The three major U.S. indexes had closed higher for the
third week in a row on Friday. 
    Gold prices rose more than 1 percent, recovering from their
lowest levels since February as the dollar and long-dated U.S.
Treasury bond yields retreated from recent highs. 
    Oil prices gained more than 2 percent in volatile trading,
recouping early losses, ahead of an OPEC meeting later in the
week that could reap production cuts. 
    The local share price index futures fell 0.1
percent, or 5 points, to 5,467, a 2.6-point premium to the
underlying S&P/ASX 200 index close. The benchmark ended
0.79 percent down on Monday.
    New Zealand's benchmark S&P/NZX 50 index fell
marginally 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 Suhail Hassan Bhat in Bengaluru; editing by
Richard Lough)

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