Aug 8 (Reuters) - Australian shares are expected to trade sideways on Wednesday, with gains in material stocks to be offset by lagging financials.
The region's largest bank, the Commonwealth Bank of Australia CBA.AX , clocked a 4.8 percent drop in its annual unaudited cash profit, which is expected to drive financial stocks lower. are expected to gain on stronger commodity prices. IRONORE/ MET/L
The local share price index futures YAPcm1 was flat at 6,202 points, a 51.9-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark fell 0.3 percent on Tuesday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose slightly in early trade.