💥 Fed cuts sparks mid cap boom! ProPicks AI scores with 4 stocks +23% each. Get October’s update first.Pick Stocks with AI

Australia shares set to tiptoe higher, Woolworths under pressure

Published 26/02/2016, 08:59 am
© Reuters.  Australia shares set to tiptoe higher, Woolworths under pressure
AXJO
-
WOW
-

MELBOURNE, Feb 26 (Reuters) - Australian shares are set to open a touch higher on Friday, buoyed by gains offshore and with energy stocks climbing on hopes major oil producers may agree to cut output, but a profit warning from supermarket Woolworths could hurt the market.

Local share price index futures YAPcm1 rose 0.7 percent to 4,871.0 to sit at 10.2-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark rose 0.1 percent on Thursday after two days in the red.

Woolworths Ltd WOW.AX may get thumped after slashing its interim dividend and promoting its supermarkets chief to the top job while warning it does not expect much improvement in supermarket sales in the second half of the 2016 financial year. Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.3 percent to 6,208.7 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

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.