July 7 (Reuters) – Australian shares are expected to retreat
on Friday as iron ore futures remained in negative territory and
as Wall Street slipped, hurt by poor labor market data.
Iron ore futures dropped for a third day while oil prices
settled slightly higher.
The index is also expected to mirror losses in Wall Street,
weighed down by disappointing labor market data along with
rising tensions in the North Korean peninsula.
The local share price index futures fell 0.4
percent to 5,676, an 82.8-point discount to the underlying
S&P/ASX 200 index close. The benchmark inched 0.1
percent lower on Thursday.
New Zealand’s benchmark S&P/NZX 50 index fell 0.3
percent or 21.46 points in early trade.
(Reporting by Hanna Paul in Bengaluru; Editing by James