August 28, 2017 / 10:23 PM / 25 days ago

Australia shares set for slow start; NZ down

    Aug 29 (Reuters) - Australian shares are set for a slow
start on Tuesday, in line with an unconvincing finish on Wall
Street in the previous session after Tropical Storm Harvey
battered the U.S. energy hub in Texas.
    Energy stocks are expected to slip on weak crude        
prices, while falls in China steel and metal prices may take a
toll on miners and other material stocks as well.           
                  
    However, gold stocks are likely to find solace in an
otherwise dismal commodity market on the back of bullion prices
which rose after the head of the European Central Bank told a
meeting of central bankers the euro zone's economic recovery had
taken hold.       
    The local share price index futures          rose 0.02
percent or 1 point to 5,679, a 30.9-point discount to the
underlying S&P/ASX 200 index         close. The benchmark fell
0.6 percent on Monday. 
    New Zealand's benchmark S&P/NZX 50 index         fell 0.2
percent or 15.52 points to 7,811.35 at 2213 GMT.

 (Reporting by Chris Thomas in Bengaluru; Editing by James
Dalgleish)
  
 
 

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