The share market has closed lower as weaker iron ore and oil prices dragged on the resources sector, and the big banks also fell.

Despite a positive start to trading, most sectors on the local bourse drifted into the red, OptionsXpress market analyst Ben Le Brun said.

“There’s still problems in the materials space, the energy sector as well, with crude oil falling overnight,” Mr Le Brun said.

The falling iron ore price was doing the most damage in the resources sector, with no sign of a bounce in sight, he said.

BHP Billiton fell 30 cents to $35.50, Rio Tinto added three cents to $61.56 and Fortescue Metals dropped six cents to $3.87.

Oil and gas producer Woodside Petroleum shed 38 cents to $42.35 and Santos dipped five cents to $14.68.

A disappointing financial result from Myer, which suffered a 23 per cent fall in profit, added to the negative sentiment across most of the market.

Myer shares dropped 32 cents, or 13 per cent, to $2.15.

Better than expected jobs figures, including a fall in the unemployment rate to 6.1 per cent, had little impact on investors.

Mr Le Brun said the previous month’s unemployment rate of 6.4 per cent had seemed abnormally high, so a fall in the August figure had already been priced into the market.

Investors were now waiting on jobless claims in the US, due on Thursday night, as the next potential driver for the market.

Among the banks, Commonwealth Bank shed 90 cents to $80.64, ANZ lost 22 cents to $33.14, National Australia Bank fell 13 cents to $34.42 and Westpac was 14 cents weaker at $34.62.

Telstra dropped three cents to $5.59.

KEY FACTS

* At 1625 AEST on Thursday, the benchmark S&P/ASX200 index was down 28.2 points, or 0.51 per cent, at 5,546.1 points.

* The broader All Ordinaries index was down 27.5 points, or 0.49 per cent, at 5,546.9 points.

* The September share price index futures contract was down 33 points at 5,544 points, with 29,957 contracts traded.

* National turnover was 1.63 billion securities worth $3.95 billion.