Australian shares looked set for a flat open on Tuesday, with likely gains in miners from firmer iron ore and metal prices being potentially offset by softness in gold stocks on declining bullion.

The local share price index futures (YAPcm1) slipped 0.1%, reflecting an 18-point discount to the underlying S&P/ASX 200 index ASX:XJO, which closed 0.2% lower on Monday.

New Zealand's benchmark S&P/NZX 50 index NZX:NZ50G rose 0.3% in early trade.