October 25, 2017 / 9:35 PM / in 2 months

Australia shares likely to dip, NZ slightly lower

    Oct 26 (Reuters) - Australian shares are expected to slip at
open on Thursday, with weak commodity prices likely to pull
material and energy stocks lower, while a slump on Wall Street
in the previous session is also seen weighing on sentiment.
    U.S. oil prices slipped on Wednesday after a surprising
increase in U.S. crude inventories, while soft earnings on Wall
Street caused a slump in U.S. stocks.                   
    Locally, Australia and New Zealand Banking Group Ltd
         posted annual statutory net profit of A$6.41 billion 
($4.94 billion), slightly below an average estimate of A$6.87
billion from 9 analysts surveyed by Thomson Reuters I/B/E/S.
            
    The local share price index futures          fell 0.2
percent or 11 points to 5,878, a 27.6-point discount to the
underlying S&P/ASX 200 index         close. The benchmark rose
0.1 percent on Wednesday.
    New Zealand's benchmark S&P/NZX 50 index         fell 0.1
percent in early trade, ahead of the release of September trade
balance data.
    
($1 = 1.2977 Australian dollars)

 (Reporting by Chris Thomas in Bengaluru; Editing by Sandra
Maler)
  
 
 

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