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Markets

Australia shares set to make modest gains; NZ slips

Published December 27, 2017 Updated December 27, 2017 10:40pm

SYDNEY: Australian shares may gain marginally at Thursday's opening, with higher metal prices and a muted performance in Wall Street stocks.

Benchmark copper on the London Metal Exchange ended up 1.6 percent at $7,239 a tonne, having touched $7,259, its highest since January 2014. Meanwhile, aluminium prices rose 2.7 percent to $2,252 a tonne, their highest since March 2012.

Gains in technology stocks offset losses in the energy sector on Wall Street, in thin trade.

The local share price index futures gained 2 points to reach 6,024, a 45.9-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.2 points on Wednesday.

New Zealand's benchmark S&P/NZX 50 index fell modestly in early trade, down as much as 0.1 percent as health care and real estate stocks weighed on the index.

 

Copyright Reuters, 2017
 

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