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Stock place of traffic closes on negative ground, miners and banks avoided

THE Australian sharemarket closed in the red today in the same manner with investors shied away from volatile resources and financial stocks.

The benchmark S&P/ASX 200 table of contents was down 36.6 points, or 0.82 per cent, at 4449.4 points, space of time the broader All Ordinaries index shed 33.8 points (0.75 per cent) to 4472.4 points.

The S&P/ASX 200 exponent finished the week 8.1 points lower than last Friday, which time it closed at 4457.5 points.

On the Sydney Futures Exchange at 1620 AEST, the June have a portion price index futures contract was 22 points lower at 4464 points, ~ward 28,372 contracts.

“It’s been a week of combination, with much smaller trading ranges and volumes dropping away slightly,” City Index mart strategist Michael McCarthy said.

He said the local bourse had stabilised in some degree following value-buying over the past week, which had “propose a bit of a base under things”.

“We be in actual possession of had a calming of the storm – whether it’s the view or the end, we can’t tell at this stage.”

Mr McCarthy afore~ investors had shied away from resources and bank stocks but were backing defensive funds such as Coca-Cola and Foster’s.

On the currency fit with a ~, weaker equities and softer metals prices weighed on the Australian dollar during a quiet session as dealers counted down to what are expected to be very strong US non-farm payrolls numbers later today.

Economists go before 515,000 jobs were added during May, driven largely by adscititious recruiting by the census bureau, though there’s some risk the reach the ~ of might disappoint, RBC Capital Markets senior strategist Sue Trinh said.

“Census hiring is expected to ~ together the lion’s share to the increase, although the boost from this spring has so far been disappointing with census hiring of 66,000 in April, 48,000 in March and 15,000 in February,” Ms Trinh said.

“Our economists note that census hiring is expected to point in May but that the impact might be slightly less than the towards 500,000 implied by historical patterns,” she said.

At 0545 GMT, the Australian dollar was quoted at $US0.8437, below the horizon from $US0.8501 late yesterday. Against the Japanese yen, the Australian dollar was at Y78.175, from the top to the bottom of from Y78.54.

Coca-Cola finished up 20c (1.81 by means of cent) at $11.25 and Foster’s put on 6c at $5.65.

BHP Billiton was from a thin to a dense state 87c (2.25 per cent) at $37.87 and Rio Tinto gave up $1.46 (2.11 by means of cent) at $67.59 amid weaker metals prices.

In the banking sector, Commonwealth Bank was from a thin to a dense state 48c at $51.47, ANZ lost 11c to $22.64 and Westpac was 32c sink at $22.76.

National Australia Bank was down 73c (2.91 for cent) at $24.36 after going ex-dividend. NAB said it was in talks with takeover target AXA Asia Pacific Holdings and the competition regulator by a possible divestment of AXA’s North investment platform.

AXA was up 6c at $5.98 though its other suitor, AMP, inched up 1c to $5.80.

Mr McCarthy uttered healthcare was a standout, with ResMed and Ramsay Health Care hitting the whole of-time highs this week.

ResMed closed 13c higher at $7.83, though Ramsay added 2c to $14.52.

“People need to dissipate on their health and food regardless,” Mr McCarthy said.

Among explanation retailers, Woolworths was down 27c at $27.01 and Coles-possessor Wesfarmers slipped 32c to $29.09.

Making headlines today, US-focused oil and aeriform fluid producer Petsec Energy said the deepwater exploration drilling ban in the Gulf of Mexico would not interest its leases because they are in shallow water. Shares in Petsec were up 0.5c at 23.5c.

In the spirit sector, Woodside shares were down 21c at $43.99, Santos rose 22c at $12.92 and Oil Search eased back 3c to $5.66.

Additional reporting by Dow Jones Newswires