The share market has lost ground as falls across the materials and energy sectors offset gains by some financial companies.
The benchmark S&P ASX/200 index dropped 0.32 per cent, with the materials and energy indexes the two biggest losers after oil prices fell overnight.
Macquarie Private Wealth division director Lucinda Chan said the market was having “a bit of a breather” following a wave of company earnings results in August.
Investors are keenly waiting on the release of the latest US unemployment data that may influence the timing of a US interest rate hike, she said.
“Everything’s sideways a little bit; all waiting ahead of the unemployment data in the US to come out Friday.”
As well as the drop in oil prices, mining giant BHP Billiton began trading ex-dividend, and its shares dropped 59 cents, or 2.9 per cent, to $19.84.
Rio Tinto fell 61 cents to $46.99, Newcrest Mining dropped 50 cents to $21.69 and Woodside Petroleum lost 28 cents to $28.35.
Biotechnology heavyweight CSL dropped 80 cents to $107.30.
Among the financials, Commonwealth Bank was the only one of the big four banks to close in the red, dropping 30 cents to $71.51.
ANZ gained 16 cents to $27.06, National Australia Bank added nine cents to $27.43 and Westpac edged four cents higher to $29.50.
Macquarie Group rose 59 cents to $81.29.
KEY FACTS:
* The benchmark S&P/ASX 200 index was down 17.4 points, or 0.32 per cent, at 5,415.6 points.
* The broader All Ordinaries index was down 18.2 points, or 0.33 per cent, at 5,511.2 points.
* The September share price index futures contract was down four points at 5,406 points, with 27,370 contracts traded.
* National turnover was 2.75 billion securities traded, worth $5.45 billion.
