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Australian shares to open lower for last day of year; NZ slightly down

Published 30/12/2016, 08:25 am
© Reuters.  Australian shares to open lower for last day of year; NZ slightly down
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Dec 30 (Reuters) - Australian shares are expected to open lower in their final session for the year in low-volume trading, tracking languid global stock markets and slight losses in oil futures.

Local share price futures YAPcm1 slipped 0.3 percent overnight to 5,654 points, a 45.1 point or 0.8 percent discount to the underlying S&P/ASX 200 index .AXJO .

The benchmark rose 0.25 percent on Thursday, in thin holiday trade, and closes for 2016 at 2 p.m. local time on Friday.

The market is set to record its best annual performance since 2013, having gained 7.6 percent this year, as of Thursday's close.

Oil stocks may lead losses for the day, following dips in oil futures after a surprise build-up in U.S. crude inventories reversed an advance in prices that had boosted the benchmarks to their highest levels since July last year. Zealand's benchmark S&P/NZX 50 index .NZ50 was flat with an downside prejudice in early trading, down 0.04 percent or 2.7 points at 6,889.5.

Initial losses were led by the healthcare and industrial sector, with Fisher and Paykel Healthcare FPH.NZ slipping the most. For a summary of overnight action across global markets, double click on AU/CALL For a digest of the day's business stories in Australian newspapers, double click on PRESS/AUB

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