April 19 Australian shares are poised to fall on
Wednesday as commodity prices tumble amid geopolitical issues
and oversupply worries.
Copper, lead and zinc hit three-month lows as geopolitical
tensions hurt investor appetite for base metals while iron ore
fell to its weakest since January on worries of
Oil prices fell, with U.S. crude prices down over a percent
in post settlement trade after the American Petroleum Institute
(API) indicated crude stockpiles fell less than analysts had
forecast, in its weekly data.
Sentiment is also expected to be affected by Wall Street,
which fell overnight on poor quarterly results of blue chips
like Goldman Sachs Group and Johnson & Johnson .
The local share price index futures fell by 38
points, or 0.7 percent, to 5790, a 46.7-point discount to the
underlying S&P/ASX 200 index close. The benchmark fell
0.9 percent on Tuesday.
New Zealand's benchmark S&P/NZX 50 index fell 0.2
percent, or 11.08 points, to 7222.53 in early trade.
(Reporting by Hanna Paul in Bengaluru; Editing by Chris Reese)