May 24, 2018 / 10:16 PM / 5 months ago

Australia shares set to end week lower, New Zealand flat

    May 25 (Reuters - Australian shares are poised to decline on
Friday, mirroring weakness on Wall Street, which closed lower
after U.S. President Donald Trump called off a planned summit
with North Korea's Kim Jong Un.
    Australian energy stocks will likely take a hit as oil
prices fell on worries that the Organization of the Petroleum
Exporting Countries may wind down output cuts in place since the
start of 2017.      
    The local share price index futures          fell 0.45
percent or 27 points to 6,016, a 21.1-point discount to the
underlying S&P/ASX 200 index         close. The benchmark gained
0.1 percent on Thursday.
    New Zealand's benchmark S&P/NZX 50 index         rose
slightly to 0.04 percent at 2205 GMT
    
       

 (Reporting by Shanima A in Bengaluru; Editing by Peter Cooney)
  
 
 
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