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Australia: Shares end flat amid election uncertainty

Friday, July 8, 2016 - 14:54
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[SYDNEY] Shares in Australia ended flat on Friday as investors awaited the protracted outcome to last week's national election.

The S&P/ASX 200 index gained 2.6 points, or 0.05 per cent, to close at 5,230.5.

New Zealand's benchmark S&P/NZX 50 index saw a streak of daily gains end at nine, as it closed 7.4 points, or 0.1 per cent, lower at 7,000.1.

Australian Prime Minister Malcolm Turnbull's coalition government was expected to collect the 76 seats it needs to declare an outright victory in the election held on July 2. However, the close result will leave him with a hostile upper house Senate.

REUTERS