The share market has ended the week with a fall as markets wait for the latest US jobs data that is likely to influence the timing of an expected US rate hike.
The S&P/ASX200 index dropped almost 0.3 per cent as the property sector and gold miners posted sizeable falls, while the big banks edged higher and energy stocks continued to benefit from rising oil prices.
“The big elephant in the room is the US jobs data,” said Patersons Securities strategist Tony Farnham.
“There is also a mix of Fed officials speaking tonight.There has been a degree of cautiousness coming into the market ahead of that.”
The jobs numbers, to be relased on Friday night Australian time, are a key indicator for the US Federal Reserve, which is expected to raise its key interest rate before the end of the year.
“If the jobs numbers are in line or better than expected, we would expect the US dollar to rally and a weaker scenario for the stock market. It will also deliver a degree of nervousness to the materials sector,” Mr Farnham said.
Real estate stocks were the worst performers on Friday, with Westfield dropping 23 cents, or 2.4 per cent, to $9.36, Mirvac losing five cents, or 2.3 per cent, to $2.12 and Goodman Group 17 cents weaker, down 2.4 per cent, at $6.99.
A sliding gold price continued to impact gold miners, with Newcrest sliding 41 cents to $20.53 and OceanaGold dropping nine cents to $3.63.
All four major banks gained ground, with Westpac the best performer, adding 18 cents to $30.57.
In the energy sector, Woodside rose 41 cents to $29.85, Oil Search gained eight cents to $7.51 and Origin Energy was three cents higher at $5.62.
KEY FACTS:
* At the close, the benchmark S&P/ASX 200 index was down 15.6 points, or 0.28 per cent, at 5,467.4 points.
* The broader All Ordinaries index was down 16.3 points, or 0.29 per cent, at 5,548.5 points.
* The December share price index futures contract was down 17 points at 5,450 points, with 23,899 contracts traded.
* National turnover was 2.6 billion securities traded, worth $5.25 billion.
