Australian shares closed lower to end the week, after two straight days of gains.
ASX 200: 5,722.80 -38.65 (-0.67%)
All Ordinaries: 5,771.20 -34.51 (-0.59%)
AUD/USD: 0.7908 -0.0049 (-0.62%)
The local index had a weak lead from global markets, with US stocks flat while markets in Europe fell as the stronger euro weighted on sentiment.
Despite today’s fall, the ASX200 still finished up 1.2% for the week.
The ASX 200 financials index finished 0.7% lower, after rising by 3.5% over the previous two days following the release of APRA’s minimum capital requirements.
Each of the majors were lower, with Bank of Queensland the only listed lender to finish ahead, closing up 0.8%.
The big miners also had a bad day, with BHP and Rio both down by 2%. Fortescue was 2.5% lower after falling by 3.5% yesterday, following a native title ruling by the Federal Court.
Gold miner Newcrest Mining rose by 0.7%. The ASX energy index was down 1% while the materials sector fell by 1.4%.
The biggest gain on the day was for testing services provider ALS Limited, which rose by 4.6%. Industrial company CSR suffered the heaviest fall, closing 6% lower.
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