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Aus shares to drop at the open on the back of mixed overseas leads: reporting season ramps up

17 Aug 2020 – Australian shares are set to drop at the open, taking direction from losses in Europe and lacklustre trading in the US. Wall Street was mixed retail sales in July fell short of forecasts, production met expectations. Shares in chip maker Applied Materials rose 3.9 per cent after it forecast fourth-quarter revenue above analyst estimates. Investors are also concerned over stalled coronavirus stimulus negotiations and simmering US-China tensions.

Source: Finance News Network

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