Australia's share market has fallen for a second straight week as mining sector selling continued and ongoing attacks between the US and Iran weighed on global growth hopes.
The S&P/ASX200 fell 44 points on Friday, down 0.5 per cent, to 8,796.7, while the broader All Ordinaries lost 58.1 points, or 0.64 per cent, to 8,978.8.
The top-200 narrowed some early losses in the final minutes of trade, but ultimately ended the week 0.11 per cent lower.
Miners weighed heavily as gold and copper prices slumped, while energy stocks advanced as oil prices clung to their recent gains as the Persian Gulf conflict dragged on.
"It is the ASX200's sixth-straight week around this 8800 area and it's not a surprise when we've got so many concerns out there," IG market analyst Tony Sycamore told AAP.
"The conflict in the Middle East, we've got inflation still too high, we've got the Reserve Bank still with a hiking bias, and when company news hits the biggest stock in the index, it adds up to a pretty soggy old end for the week."
BHP shares tumbled 2.7 per cent to $57.54, as strike action at Port Hedland and downgraded copper production guidance raised valuation concerns, prompting a price target downgrade from UBS.
Gold stocks were a sea of red as the precious metal struggled to hold above $US4,000 ($A5,725) an ounce, with Regis and Westgold under particular pressure after their trading updates failed to deliver good news.
Energy stocks rallied as oil prices hung onto their recent gains after five days of strikes and retaliation between the US and Iran.
Financials tipped 0.1 per cent lower as insurers and investment firms helped counterbalance a weak day for the banks.
Defensive sectors also soared on Friday, with consumer staples, communications and utilities stocks all gaining one per cent or more in the week's final session.
Coles did some heavy lifting in the staples rally, soaring almost three per cent after walking away from a plan to buy pet care company and Petbarn owner Greencross for roughly $4 billion.
The health care sector fell 0.3 per cent, as Pro Medicus, Telix Pharmaceuticals and Mesoblast sold off sharply.
AMP was the S&P/ASX200's best performer as it continued its post-earnings rally to above $2 per share, its highest price since February 2020.
In other company news, Zip Co dropped more than five per cent after announcing it would retreat from its New Zealand business to focus on markets in the US and Australia.
The Australian dollar is buying 69.86 US cents, down from 70 US cents on Thursday at 5pm.
Looking ahead, the Australian Bureau of Statistics will hand down employment data on Thursday in an otherwise quiet week for local data.
ON THE ASX:
* The S&P/ASX200 fell 44 points on Friday, or 0.5 per cent, to 8,840.7
* The broader All Ordinaries slipped by 58.1 points, or 0.64 per cent, to 8,978.8
One Australian dollar trades for:
* 69.86 US cents, from 70 US cents at 5pm AEST on Thursday
* 113.35 Japanese yen, from 113.47 Japanese yen
* 61.01 euro cents, from 61.03 euro cents
* 51.84 British pence, from 51.69 pence
* 119.61 NZ cents, from 119.52 NZ cents
