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Australia shares face cautious open, NZ stronger

Published 14/07/2016, 09:16 am
© Reuters.  Australia shares face cautious open, NZ stronger
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MELBOURNE, July 14 (Reuters) - Australian shares may open lower on Thursday after five straight days of gains, as the market digests weaker than expected June trade data from China, Australia's biggest trading partner, and a slide in oil prices.

Local share price index futures YAPcm1 inched up 0.1 percent but finished at a 31.5-point discount to the underlying S&P/ASX 200 index .AXJO . The benchmark rose 0.7 percent to 5,388.5 on Wednesday.

New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 16 points, or 0.2 percent, to 7,080.32 in early trade.

Woodside Petroleum WPL.AX will be in the frame after announcing a $350 million acquisition of stakes in "world-class" oil finds off Senegal from ConocoPhillips (NYSE:COP) COP.N . deal may initially drive down Australian explorer FAR Ltd's FAR.AX share price, which owns a 15 percent stake in the same fields, as Woodside is paying less than FAR's market capitalisation for a 35 percent interest in the fields.

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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