The Australian share market has closed slightly lower after weaker iron ore prices weighed on the resources sector and investors await the release of jobs data in the United States.
CMC Markets chief market analyst Ric Spooner said the local bourse was relatively quiet on Friday.
“The big miners are down a bit. That’s probably a follow-through from the downgrade to China’s GDP growth yesterday and a weaker iron ore price overnight,” Mr Spooner said.
The price of iron ore in China has dropped below $US60 a tonne.
“The other factor behind the quiet day is that traders are in waiting mode prior to the jobs figures in the US tonight.”
In the resources sector, global miner BHP Billiton dropped 52 cents to $32.64, Rio Tinto fell 76 cents to $60.39, and Fortescue Metals reversed 14 cents to $2.15.
Among smaller iron ore miners, Atlas Iron scraped off one cent to 16.5 cents, and BC Iron dumped 2.5 cents at 43.5 cents.
Gold miner Regis Resources plunged 51 cents, or 26.7 per cent, to $1.40 after the company said annual production will be at the lower end of its target range.
Oil and gas producer Woodside Petroleum was down seven cents at $35.16, and Santos eased one cent to $7.84 as concerns over a global oil supply glut caused energy prices to slide overnight.
Among the major banks, Commonwealth Bank slipped three cents to $91.09, National Australia Bank gave away 13 cents at $37.97, ANZ surrendered 11 cents at $35.39, and Westpac sagged 15 cents at $37.68.
Telstra was four cents lower at $6.28.
KEY FACTS
* At 1615 AEDT on Friday, the benchmark S&P/ASX200 index was down 5.3 points, or 0.09 per cent, at 5,898.9 points.
* The broader All Ordinaries index was down 5.1 points, or 0.09 per cent, at 5,868.6 points.
* The March share price index futures contract was nine points lower at 5,881 points, with 17,637 contracts traded.
* Preliminary national turnover was 1.45 billion securities worth $4.03 billion.