The Australian share market has retreated from one per cent gains to end modestly higher.
The bourse was up a third of a per cent, boosted by the banking sector but pulled down by resources stocks.
“(We were) weighed down by anything commodities based and also a little bit of late selling in Woolworths after their annual general meeting, optionsXpress market analyst Ben Le Brun told AAP.
“So that’s kept the shackles on it.”
Admitting that 2015 financial year results were “frankly unacceptable”, Woolworths’ chairman said he was confident the business will see a turnaround and reaffirmed their profit guidance for the first half of 2016.
Shares fell 36 cents to $24.02.
BHP Billiton was again hit by falls in commodity prices, down 73 cents, or 3.71 per cent to $18.94.
Rio Tinto was also down, shedding 65 cents to $46.49.
It was a horror day of trade for Slater and Gordon, which lost half of its value after the UK government announced proposals that would change the rights of people injured in road accidents in the United Kingdom.
The law firm was down 99.5 cents, or 51.42 per cent to 94 cents.
Mr Le Brun said investors decided on a “monumental pullback”.
“In my mind it looks like it could be a little bit over done, but then again sentiment is a hard thing to put a value or price on,” Mr Le Brun said.
The big four banks carried the bourse, all in the black.
Commonwealth Bank was the biggest winner, adding $1.22 to end $80.22, Westpac followed, ending 39 cents to $32.09, ANZ added 12 cents to $27.56 while National Australia Bank was up 12 cents to $29.69.
Shares in Monash IVF have soared 18.31 per cent, after the company delivered news that its first half profit would jump by a quarter.
It closed 26 cents up, to $1.68.
KEY FACTS
*At the close on Thursday, the benchmark S&P/ASX200 index was up 17 points, or 0.33 per cent, at 5,210.7.
* The broader All Ordinaries index was up 14.5 points, or 0.28 per cent, at 5,259.7.
* The December share price index futures contract was up 18 points at 5,223 with 28,025 contracts traded.
* The price of gold in Sydney at 1700 AEDT was $US1,072.39 per fine ounce, down $US6.31 on Wednesday’s price of $US1,078.70.
* National turnover was 2.3 billion securities worth $5.1 billion.
