Australia shares likely to extend losses, NZ flat

Credit: REUTERS/DAVID GRAY

Australian shares are likely to open lower on Wednesday, tracking losses on Wall Street and in global equities, as an impasse in U.S. economic stimulus negotiations dented sentiment.

July 29 (Reuters) - Australian shares are likely to open lower on Wednesday, tracking losses on Wall Street and in global equities, as an impasse in U.S. economic stimulus negotiations dented sentiment.

MSCI's gauge of stocks across the globe shed 0.37%, while on Wall Street, the Nasdaq Composite dropped 1.3%.

Australia's local share price index futures fell 0.4%, a 60.5-point discount to the underlying S&P/ASX 200 index close. The benchmark declined 0.4% to 6,020.50 points at the close of trade on Tuesday.

New Zealand's benchmark S&P/NZX 50 index was flat in early trade. (Reporting by Shruti Sonal in Bengaluru; editing by Jonathan Oatis) ((Shruti.Sonal@thomsonreuters.com; Twitter: @shrutisonal26)) ((For more information on DIARIES & DATA: U.S. earnings diary [RESF/US] Wall Street Week Ahead [.N/O] Global Economy Week Ahead [DATA/] ................................................................ For latest top breaking news across all markets

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