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Stocks down ahead of US jobs data report

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The share market ended the week with a third consecutive fall, as weakness in health care and financials offset gains by Rio Tinto and Newcrest Mining.

The benchmark S&P ASX/200 index fell 0.79 per cent on Friday, as 17 of the top 20 companies finished in the red, leading to a fall of 2.6 per cent for the week.

Investors are waiting for the release of a US jobs report late on Friday that could sway forecasts of the timing of a US interest rate hike, CommSec market analyst Steven Daghlian said.

“The main concern at the moment for markets is what will take place tonight in the US, rather than any thing taking place here in Australia at the moment,” he said.

The market is forecasting 165,000 new jobs in August, but if the figure is much stronger it could add support to the view a September rate hike is more likely. That would lift the US dollar against the Aussie, Mr Daghlian said.

The biggest loser on Friday was the health care sector, which fell 2.1 per cent, while financial stocks were 0.95 per cent lower.

Biotechnology giant CSL dropped $2.37 to $104.93, while Ramsay Health Care fell $2.35 to $81.31.

Leading the four major banks lower was Commonwealth Bank, which dropped 60 cents to $70.91.

Westpac fell 33 cents to $29.17, National Australia Bank lost 29 cents to $27.14 and ANZ was 22 cents weaker at $26.84.

Macquarie Group shed 68 cents to $80.61.

Energy giant Woodside Petroleum dropped 27 cents to $28.08 after oil prices fell about 3.5 per cent overnight, and Fortescue Metals fell six cents to $4.84 after going ex-dividend.

Bucking the broader market were resources companies Rio Tinto, Newcrest Mining and BHP Billiton.

Rio rose 42 cents to $47.41, Newcrest gained 67 cents to $22.36 and BHP added one cent to $19.85.

Retail giant Woolworths rose seven cents to $23.98.

KEY FACTS:

* The benchmark S&P/ASX 200 index was down 42.8 points, or 0.79 per cent, at 5,372.8 points.

* The broader All Ordinaries index was down 40.6 points, or 0.74 per cent, at 5,470.6 points.

* The September share price index futures contract was down 58 points at 5,348 points, with 34,219 contracts traded.

* National turnover was 2.66 billion securities traded, worth $6.73 billion.