Australian shares were likely to slip on Thursday, with probable losses in mining stocks due to lower iron ore prices, while energy stocks could snap a four-day win streak as oil prices weakened on optimism over U.S.-Iran peace talks.

The local share price index futures (YAPcm1) fell 0.3%, a 35.9-point discount to the underlying S&P/ASX 200 index ASX:XJO close. The benchmark lost 0.6% on Wednesday.

New Zealand's benchmark S&P/NZX 50 index NZX:NZ50G fell 0.1% in early trade.