May 23, 2018 / 10:10 PM / in a year

Australia shares set to extend losses; NZ steady

    May 24 (Reuters) - Australian shares were likely to slip at
the open on Thursday, extending losses to their sixth straight
session, with material and energy stocks expected to come under
pressure after oil and  iron ore prices fell.
    The most-traded iron ore futures on the Dalian Commodity
Exchange           closed down 0.7 percent on Wednesday, while
oil benchmarks fell after an unexpected build in U.S. crude and
gasoline inventories despite strong demand.                 
    The local share price index futures          fell 0.2
percent or 12 points to 6,024, an 8.5 point discount to the
underlying S&P/ASX 200 index         close. The benchmark shed
0.2 percent on Wednesday.
    New Zealand's benchmark S&P/NZX 50 index         rose 0.04
percent at 2205 GMT.

 (Reporting by Shanima A in Bengaluru)
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