The sharemarket fell 0.4pc on Friday, weighed by miners and banks. But energy and gold explorers offset the losses.
The Australian sharemarket fell on Friday to end the week lower, snapping three weeks of gains. Miners and banks led losses.
A build-up in port inventories undermined investor sentiment for iron ore used to make steel. Chinese and Singapore iron ore futures plunged for a third straight day to reach near four-month lows. Shares in Whitehaven Coal were the star performer, rising 5.9 per cent to $7.38 after a business quarterly update. It first slumped as investors reacted to a reduction in coal output, but rebound onEnergy stocks bucked a 2 per cent drop in oil prices because of demand concerns should the US tip into recession.
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