April 20 (Reuters) - Australian shares are expected to slip on Thursday as weakness in oil and iron ore prices along with declines in U.S. stocks affect sentiment.
Oil dipped to a two-week low as output cuts by the Organization of the Petroleum Exporting Countries (OPEC) were offset by U.S. shale producers. O/R
Iron ore futures extended losses to a third day amid concerns that supply was outpacing demand in China. IRONORE/
Sentiment is also expected to be dampened by the fall in the S&P 500 and Dow 30, dragged down by disappointing corporate earnings. .N
The local share price index futures YAPcm1 fell 13 points, or 0.2 percent, to 5,784, a 20-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark fell 0.6 percent on Wednesday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.2 percent, or 15.82 points, to 7,202.7 in early trade.
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