At closing bell, the benchmark S&P/ASX200 index dropped 8.84 points, or 0.14%, to 6,111.18. The broader All Ordinaries was down 0.96 points, or 0.02%, to 6,270.72. For the week, the benchmark S&P/ASX200 index lost about 0.2%, snapping two straight weeks of gains.
The big four banks fell between 0.2% and 0.9%. Westpac, ANZ and NAB slipped between 0.2 and 0.4%, while Commonwealth Bank shed 0.9%. Financial conglomerate Suncorp soared 11% on the release of its FY20 profit results.
Fund management company MyState lost 3.9% after it reported a 3% decrease in full-year profit and said it will not pay a final dividend to shareholders.
Energy companies Woodside Petroleum and Oil Search rose about 1% despite crude oil prices slipping overnight. Santos jumped 3.6%.
CURRENCY NEWS: The Australian dollar changed hands at $0.7185, in a turbulent trading week that has seen it from levels above $0.724 to below $0.716.
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