The share market has closed slightly higher in a see-sawing session ahead of the release of important jobs figures in the US.
Many investors were sitting on the sidelines as they waited for US non-farm payrolls data to be released on Friday, Quay Equities head of trading Tristan K’Nell said.
The jobs figures are expected to be a crucial pointer to when the US Federal Reserve raises interest rates.
“People are just taking a bit of a pause, a bit of caution – the market’s been spanked around this week,” Mr K’Nell said.
After big falls on Monday, Tuesday and Thursday, shares ended the week four per cent lower, the market’s worst week since early June.
Big mining stocks lifted on Friday as bargain hunters moved in, but most of the major banks were sold off.
“It’s been pretty much a flat day in the end,” Mr K’Nell said.
BHP Billiton was 37 cents higher at $24.69, Rio Tinto gained 49 cents to $49.76 and Fortescue Metals eased three cents to $1.86.
Westpac declined 25 cents to $29.94, National Australia Bank shed 13 cents to $29.80, ANZ dropped 10 cents to $26.86 while Commonwealth Bank added 18 cents to $72.15.
Telstra gained five cents to $5.61.
Casinos operator Echo Entertainment was 10 cents higher at $4.74 as the NSW gaming regulator granted permission to Genting Hong Kong to lift its stake to up to 23 per cent. Permission from Queensland authorities is still required.
KEY FACTS
* On Friday, the benchmark S&P/ASX200 index was up 12.8 points, or 0.25 per cent, at 5,040.6 points.
* The broader All Ordinaries index was up 12.1 points, or 0.24 per cent, at 5,060.8 points.
* The September share price index futures contract was up 20 points at 5,025 points, with 39,084 contracts traded.
* The price of gold in Sydney at 1700 AEST was $US1,125.30 per fine ounce, down $US7.40 on Thursday’s price of $US1,132.70.
* National turnover was 2.1 billion securities worth $6.4 billion.
