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CORRECTED-Australia shares set to open lower tracking Wall Street
March 7, 2017 / 9:33 PM / 9 months ago

CORRECTED-Australia shares set to open lower tracking Wall Street

 (Corrects headline to drop reference to New Zealand stock
exchange opening flat. The exchange did not open as scheduled
due to a technical glitch.)
    March 8 (Reuters) - Australian shares are poised to open
lower on Wednesday taking cues from Wall Street overnight, with
weaker iron ore and copper prices likely to further hurt
sentiment. 
    The share price index futures          fell 0.3 percent to
5735, a 26.4 point discount to the underlying S&P/ASX 200 index
        close. The benchmark finished 0.3 percent higher on
Tuesday.
    U.S. stock prices fell overnight, dragged down by losses in
drug and financial shares.     
    Drug stocks on Wall Street traded lower on Tuesday after
Trump said he was developing a plan to encourage competition in
the drug industry and bring down prices for medicines.
                        
    Chinese iron ore futures fell for a third session on
Tuesday, pressured by a rising pile of the raw material at
China's ports and weaker steel prices, while copper fell to its
lowest in a month.          
    For a summary of overnight action across global markets,
double click on          
       
For a digest of the day's business stories in Australian 
newspapers, double click on            

 (Reporting by Urvashi Goenka in Bengaluru; Editing by Robin
Pomeroy)
  
 
 

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