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Australia shares end flat on UK election uncertainty; NZ falls for 4th day

Published 09/06/2017, 04:29 pm
Updated 09/06/2017, 04:30 pm
© Reuters.  Australia shares end flat on UK election uncertainty; NZ falls for 4th day
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June 9 (Reuters) - Australian shares ended little changed on Friday as no clear winner emerged from Britain's parliamentary election.

The S&P/ASX 200 index .AXJO was up 0.02 percent, or 1.023 points to 5,677.8 at close of trade. For the week, it lost 1.9 percent, its first such loss in three weeks.

With 633 out of 650 seats declared in the UK elections, the Conservatives had won 308 seats and were therefore no longer able to reach the 326-mark they would need to command a parliamentary majority. Labour had won 258 seats. Aussie stocks, miners BHP BHP.AX and Rio Tinto (LON:RIO) RIO.AX contributed most to gains on the benchmark, rising 1 percent and 1.4 percent, respectively, with Rio hitting its highest close in over a week. MET/L

Gains in Qantas Airways QAN.AX of 3.3 percent also buoyed the benchmark. Australia Bank NAB.AX , Woodside Petroleum WPL.AX and Telstra TLS.AX shares were the biggest drags on the index, falling between 0.7 percent and 2.3 percent.

New Zealand's benchmark S&P/NZX 50 index .NZ50 ended 0.3 percent, or 22.56 points, to 7,436.1, posting its fourth straight session of losses.

On the week, the index lost 0.9 percent, its worst week since late March.

Industrial stocks led the falls as Auckland International Airport AIA.NZ and Port of Tauranga POT.NZ shed 1.4 percent and 1.6 percent.

Australia's stock market will be closed on Monday for a public holiday and will resume trading on Tuesday.

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