October 19, 2017 / 9:43 PM / a year ago

New Zealand shares fall as Labour forms new govt, Aussie shares set to drop

    Oct 20 (Reuters) - New Zealand shares fell on Friday after
the small, nationalist New Zealand First Party agreed to form a
new government with Labour Party leader Jacinda Ardern.
    The benchmark S&P/NZX 50 index         fell 1.1 percent, or
93.98 points to 8,030.09 in early trade, with losses led by
healthcare, utility and telecom stocks. The benchmark gained 0.1
percent on Thursday. 
    New Zealand's Labour leader Jacinda Ardern will form the
country's next government and will become New Zealand's youngest
leader in 150 years.              
    Australia's shares are also expected to slip as oil and
commodity prices continued to slid. 
    The local share price index futures          fell 0.3
percent, or 19 points, a 37.1-point discount to the underlying
S&P/ASX 200 index         close. 

For a summary of overnight action across global markets, double
click on          
For a digest of the day's business stories in Australian 
newspapers, double click on            

 (Reporting by Christina Martin in Bengaluru; Editing by Cynthia
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