SYDNEY, July 8 (Reuters) - Australian shares look set to pull back on Wednesday, likely pressured by resources firms after metals prices plunged overnight and as investors remain cautious over persistent uncertainty about Greece's strained financial position.
Euro zone members have given Greece until the end of the week to come up with a proposal for sweeping reforms in return for loans that will keep the country from crashing out of Europe's currency bloc and into economic ruin. ID:nL8N0ZN0LW
The local share price index futures YAPcm1 fell 0.3 percent overnight, a 73.4-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark jumped 1.9 percent on Tuesday - the biggest gain in nearly five months - to 5,581.42 points.
Resources shares such as BHP Billiton BHP.AX , Rio Tinto RIO.AX and Fortescue FMG.AX could face selling pressure after iron ore plunged nearly 6 percent to a three-month low. ID:nL3N0ZN2JJ
Webjet Ltd WEB.AX could also be in investors' sights after it re-affirmed guidance for FY15. ID:nWNBS00ZN1
Other stocks that may move around include Aurizon Holdings AZJ.AX , Transfield TSE.AX , Wesfarmers WES.AX and Automotive Group AHG.AX after Morningstar downgraded their stock ratings.
New Zealand's benchmark NZX 50 index .NZ50 fell 4.79 points or 0.08 percent to 5,798.38 points 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