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Markets

Australia shares poised to slip as Sydney travel curbs stoke recovery fears

  • The states of Victoria and Queensland, and the Northern Territory, banned people arriving from Sydney as of Monday.
21 Dec 2020

Australian shares were set to open lower on Monday after a resurgence in COVID-19 infections in Sydney led to states and territories imposing travel restrictions on residents of the city, stoking fears of a delayed economic recovery.

The states of Victoria and Queensland, and the Northern Territory, banned people arriving from Sydney as of Monday.

The local share price index futures fell about 0.2%, a 79.5-point discount to the underlying S&P/ASX 200 index close. The benchmark closed 1.2% lower on Friday.

New Zealand's benchmark S&P/NZX 50 index rose marginally by 2122 GMT.

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