Health sector ills pull share market lower

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The share market has fallen slightly due to weakness in the energy sector and a surprise profit warning from private hospitals operator Healthscope.

A fall of 0.2 per cent for the S&P/ASX 200 index ended a run of four straight days of gains, and left the market relatively steady for the week.

“Weakness in the energy and healthcare sectors really undermined us today, especially that shock downgrade from Healthscope,” OptionsXpress market analyst Ben Le Brun said.

Healthscope plunged 55 cents, or 18.8 per cent, to $2.38 after it said revenue growth had softened in the first quarter and could dent earnings growth, as patient volumes growth proves slow.

Ramsay Health Care also fell, dropping $4.67, or 5.9 per cent, to $74.80

Energy stocks came under pressure after oil prices dropped more than two per cent.

Woodside Petroleum fell 27 cents to $29.30, Oil Search slipped 17 cents to $7.12, and Origin Energy retreated five cents to $5.61.

But Santos added two cents to $3.84, after narrowing its full year sales guidance to the top end of its previous target range after total sales volumes leapt 31 per cent in the September quarter.

BHP Billiton gained 19 cents to $23.04, as it rejected charges by Brazilian prosecutors filed against the company and its employees in relation to last year’s fatal Samarco dam disaster.

Rio Tinto shed one cent to $50.95 and Fortescue Metals picked up seven cents to $5.12.

ANZ lifted 22 cents to $28.25, Westpac advanced 27 cents to $30.43, Commonwealth Bank improved 31 cents to $74.90, but National Australia Bank dropped one cent to $27.74.

KEY FACTS:

* The benchmark S&P/ASX 200 index dropped 11.8 points, or 0.22 per cent, to 5,430.3 points.

* The broader All Ordinaries index fell 12.3 points, or 0.22 per cent, to 5, 513.9 points.

* The December share price index futures contract was down 23 points at 5,402 points, with 26,590 contracts traded.

* National turnover was 2.97 billion securities traded, worth $5.35 billion.