December 3, 2017 / 9:17 PM / a year ago

Australia shares expected to open lower, tracking Wall Street; NZ marginally down

    Dec 4 (Reuters) - Australian shares are expected to open
lower on Monday, tracking Wall Street, while material stocks
might gain after base metals and iron ore prices hit fresh highs
over the weekend.
    Wall Street fell on Friday after ex-national security
adviser Michael Flynn pleaded guilty to lying to the FBI about
contacts with Russia's ambassador.     
    Shanghai steel futures traded near their strongest level
since mid-September on Friday and chalked up their biggest
weekly gain in four months, supported by tighter supply in the
world's top producer.          
    Australian share price index futures          fell 0.1
percent, a 1.2-point premium to the underlying S&P/ASX 200 index
        close. The benchmark rose 0.3 percent on Friday.
    New Zealand's benchmark S&P/NZX 50 index         fell 0.2
percent in early trade.

 (Reporting by Sumeet Gaikwad in Bengaluru)
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