Australia shares set to nudge lower; NZ holds steady



Australian shares are poised to inch lower on Thursday as oil settled one percent weaker after OPEC reported its September oil output hit eight-year highs, offsetting optimism over the group's pledge to bring a global crude glut under control.
Officials of some of the world's biggest oil trading companies told the Reuters Commodities Summit in London that crude was unlikely to achieve supply-demand balance until well into 2017.[O/R]
The local share price index futures YAPcm1 drifted down 0.3 percent to 5440, a 34.6-point discount to the underlying S&P/ASX 200 index close. The benchmark... read more

 
12 October 2016 in Business, Views: 36
Source: Reuters
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