The Australian share market has been dragged down by poorly performing banking, utilities and energy stocks.
CMC Markets analyst Michael McCarthy said those sectors were all more than two per cent lower on Friday.
“There’s been plenty of pressure today,” Mr McCarthy said.
Mr McCarthy said many of the big market players had been sitting on the sidelines ahead of the release of US jobs figures on Friday night.
At 1615 AEDT, ANZ was the worst performing bank, losing 65 cents, or 2.77 per cent, to $22.81.
National Australia Bank fell 56 cents, or 2.1 per cent, to $25.68, Commonwealth Bank slumped $1.93, or 2.6 per cent, to $72.99 and Westpac dropped 70 cents, or 2.3 per cent, to $29.65.
Energy giant Woodside Petroleum was down 29 cents, or 1.1 per cent, to $25.67 and Oil Search fell 24 cents, or 3.5 per cent, to $6.52 while Santos lost 11 cents, or 2.7 per cent, to $3.92.
Origin Energy fell 19 cents, or 3.73 per cent, to $4.90.
The nation’s big miners were the best performing stocks following the release of better than expected Chinese manufacturing data on Friday.
BHP Billiton was up 11 cents, or 0.65 per cent, to $16.97 and Rio Tinto lifted 45 cents, or 1.05 per cent, to $43.14.
KEY FACTS:
* At the close on Friday, the benchmark S&P/ASX200 index was down 83.4 points, or 1.64 per cent, at 4,999.4.
* The broader All Ordinaries index was down 78 points, or 1.51 per cent, at 5,073.8.
* The June share price index futures contract was 90 points lower at 4,976 points, with 41,708 contracts traded.
* National turnover was 2.5 billion securities traded, worth $5.1 billion.
