Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Australia shares to drop on energy, mining slump

Published 08/12/2015, 08:54 am
Updated 08/12/2015, 09:00 am
© Reuters.  Australia shares to drop on energy, mining slump
AXJO
-
GNC
-
ELD
-

MELBOURNE, Dec 8 (Reuters) - Australian shares are set to open lower on Tuesday, hauled down by energy and mining stocks, with supply gluts and concerns about Chinese demand weighing on oil and metals prices.

Local share price index futures YAPcm1 fell 0.3 percent to 5,135.0 to sit at a 20.7-point discount to the underlying S&P/ASX 200 index .AXJO close, pointing to a weaker opening. The benchmark ticked up 0.08 percent on Monday.

New Zealand's benchmark NZX 50 index .NZ50 slipped 0.2 percent to 6,055.4 in early trade.

Agribusiness stocks GrainCorp GNC.AX and Elders Ltd ELD.AX will be in the frame after Australia issues its latest agricultural commodities forecast on Tuesday.

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.