News: Australia shares set to open flat; NZ stocks edge higher

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    SYDNEY, July 7 (Reuters) - Australia's share market is set to open flat on Thursday, after fears for the stability of the European Union spurred falls on Wednesday, ending the bourse's week-long rally.

    The local share price index futures YAPcm1 rose 0.7 percent, but it remains at an 8.5-point discount to the underlying S&P/ASX 200 index (xjo) close. The benchmark fell 0.58 percent to 5,197.5 points on Wednesday, after hitting a one-week low.

    New Zealand's benchmark S&P/NZX 50 index (nz50) rose 0.29 percent or 20.22 points in early trade, to 6,997.84 points.

    For a summary of overnight action across global markets, click 

    on [AU/CALL] For a digest of the day's business stories in Australian newspapers, click on [PRESS/AUB]

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