Australian stocks end the week in the red
The Australian sharemarket has endured its worst day and week in a month as investors shunned resources companies after a commodities sell-off in offshore trade.
At closing, the benchmark S&P/ASX 200 index had skidded 45.7 points, or 0.79 per cent, to 5,739, while the broader All Ordinaries index surrendered 45.6 points, or 0.78 per cent, to 5,786.9.
The benchmark ended down 1.3 per cent on the week, on the back of a run of five red sessions in the last six.
“Cautious trading Friday rounds out a week of nervous drift for the ASX200 as investors have digested a mixed bag of company results and lacked the macro drivers needed to lift the index past resistance at 5,827,” CMC Markets chief market analyst Ric Spooner said.