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Australia shares face wary opening on Fed caution, NZ climbs

Published 16/06/2016, 08:59 am
© Reuters.  Australia shares face wary opening on Fed caution, NZ climbs
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MELBOURNE, June 16 (Reuters) - Australian shares are set to open roughly unchanged on Thursday following five straight losing sessions, with miners to steady the market as the U.S. dollar weakened and gold prices rose after the Federal Reserve pared its economic growth forecasts for this year.

Local share price index futures YAPcm1 picked up 1 point to 5,158.0, which was a 10.9-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark fell 0.9 percent to a two-month low on Wednesday.

New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.4 percent to 6,896.1 in early trade.

Crown Resorts CWN.AX will be in the frame after saying it may spin off its international business and some Australian properties into separate listed companies, seeking to protect the value of its local holdings from the impact of declines at Asian gambling hub Macau. For a summary of overnight action across global markets, click on

AU/CALL For a digest of the day's business stories in Australian newspapers, click on

PRESS/AUB

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