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AAP
AAP
Business
Derek Rose

Australian shares suffer worst week in five months

Local shares fell after the chance of interest rate cuts in the US by midyear appeared to lessen. (Joel Carrett/AAP PHOTOS)

The local bourse has finished lower but recouped most of the heavy losses it suffered in the morning, providing optimism the uptrend isn't over.

The benchmark S&P/ASX200 index had been down by as much as 1.5 per cent before lunchtime but turned things around on Friday afternoon to close down just 43.3 points, or 0.56 per cent, at 7,670.3.

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