August 7, 2018 / 10:14 PM / 2 months ago

Australian shares to trade flat; NZ inches up

    Aug 8 (Reuters) - Australian shares are expected to trade
sideways on Wednesday, with gains in material stocks to be
offset by lagging financials.
    The region's largest bank, the Commonwealth Bank of
Australia         , clocked a 4.8 percent drop in its annual
unaudited cash profit, which is expected to drive financial
stocks lower.                 
    Materials are expected to gain on stronger commodity prices.
                 
    The local share price index futures          was flat at
6,202 points, a 51.9-point discount to the underlying S&P/ASX
200 index         close. The benchmark fell 0.3 percent on
Tuesday.
    New Zealand's benchmark S&P/NZX 50 index         rose
slightly in early trade. 

 (Reporting by Ambar Warrick in Bengaluru; Editing by Lisa
Shumaker)
  
 
 
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