Nov 13 (Reuters) - Australian shares are set to open flat on Monday, following Wall Street's decline on Friday as investors worried about the future of promised corporate tax cuts. .N
Losses are likely to be offset by material stocks, that are set to gain from base metal prices, though Chinese iron ore futures drifted down for a third day in a row on Friday. MET/L IRONORE/
The local share price index futures YAPcm1 was down 0.02 percent, or 1 point at 6,031, a 1.6-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark fell 0.3 percent on Friday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.1 percent in early trade.