Australia shares set to drop on global cues, weaker commodities

miércoles 19 de agosto de 2015 19:14 GYT
 

SYDNEY, Aug 20 (Reuters) - Australian shares are set for a
weak start on Thursday, hurt by negative global sentiment,
worries over Chinese shares and falling commodity prices.
    Copper slid to a six-year low on Wednesday below $5,000 a
tonne while U.S. crude oil slumped over 4 percent to a 6-1/2
year low. Chinese iron ore futures slumped as much as 3 percent.
    The local share price index futures fell 0.9
percent, or 48 points, in overnight trading to sit at a
75.2-point discount to the underlying S&P/ASX 200 index.
The benchmark rallied 1.5 percent on Wednesday, having recovered
from a seven-month trough touched on Tuesday.
    Qantas Airways reported a return to full-year
profit on the back of a tough cost-cutting program and tailwinds
from cheaper fuel costs. 
    AMP posted a 3 pecent jump in half-year profit and
lifted its interim dividend to 14 cents a share. 
    Gold miners such as Newcrest Mining will also be in
focus after the metal rallied to a one-month high. 
    New Zealand's benchmark NZX 50 index was barely
changed at 5,746.27 points in early trade.
    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 Swati Pandey; Editing by Richard Pullin)