SYDNEY, Dec 11 (Reuters) - Australian shares are likely to see cautious trade at the open on Friday with falling iron ore prices likely to cap gains.
Local share price index futures YAPcm1 edged down 0.1 percent to 5,030, a 7.7-point discount to the underlying S&P/ASX 200 index .AXJO close on Thursday.
The benchmark touched a one-month low in the last session and was on track for a 2.2 percent decline this week. Miners BHP Billiton (L:BLT) BHP.AX and Rio Tinto (L:RIO) RIO.AX have been hit hard on weakening prices of iron ore, Australia's largest export earner.
New Zealand's benchmark NZX 50 index .NZ50 edged up 0.4 percent to 6,063.19 in early trade, but was still down half a percent for the week.
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