November 26, 2017 / 9:09 PM / a year ago

Australia shares to open steady; NZ flat

    Nov 27 (Reuters) - Australian shares are likely to open
steady on Monday as gains in materials and energy stocks on
stronger commodities prices could be offset by a weakness in
financials, with a draft bill aiming to put pressure on the
government to probe banks. 
    Iron ore prices in China on Friday posted their biggest
weekly increase in nearly five months as stronger steel prices
spurred gains in the raw material.           
    U.S. oil prices hit their highest levels in more than two
years on Friday.      
    Meanwhile, a rebel member of Australian Prime Minister
Malcolm Turnbull's coalition government is circulating a draft
bill to step up pressure for an official inquiry into the
country's scandal-hit banks.             
    The local share price index futures          fell 1 point to
5,993, a 10.4-point premium to the underlying S&P/ASX 200 index
        close. The benchmark fell 0.06 percent on Friday.
    New Zealand's benchmark S&P/NZX 50 index         fell 0.02
percent or 1.800 points to 8,128.490 in early trade.

 (Reporting by Aditya Soni in Bengaluru; Editing by Alison
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