Australia shares set to open little changed; New Zealand up

Parvez Jabri July 25, 2019

Australian shares are expected to open steady on Thursday, as gains in the mining sector on the back of firm base metal prices are likely to be capped by declines in energy stocks.

Benchmark copper on the London Metal Exchange ended up 0.5% on Wednesday, boosted by signs of progress in the US-China trade talks, while oil prices fell 1%.

The local share price index futures were little changed at 6,716, a 60.7-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.8% on Wednesday.

In New Zealand, the benchmark S&P/NZX 50 index rose 0.1% in early trade.

Copyright Reuters, 2019

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