The Australian sharemarket descended after lunchtime and made a last-hour U-turn to close 0.1 per cent higher, wrapping up the week almost where it left off last Friday.
Gold and silver miners underwhelmed due to lower spot prices of gold and silver, weighing on the broader market. Encouraging US employment figures and a momentous economic recovery have decreased demand for precious metals, which are considered safe havens during times of crisis. Shares in Newcrest (ASX:NCM)
and Evolution Mining (ASX:EVN)
had retreated over 1.4 per cent by 3pm.
Blue-chip stocks followed an ambivalent pattern today, with the market movers painting a picture of stark contrast. Rio Tinto and BHP moved in opposite directions. The big four banks’ mixed bag of performances saw losses only in Westpac (ASX:WBC)
by the last hour of trade.
At the closing bell, the S&P/ASX 200 was 0.08 per cent or 5.30 points higher at 7060.70. Over the week, it closed 0.04 per cent or 2.80 points lower.Futures
The Dow Jones futures are pointing to a 48 point rise.
The S&P 500 futures are pointing to a 7 point rise.
The Nasdaq futures are pointing to a 20 point rise.
The SPI futures are pointing to a 5 point rise for Monday morning.Best and worst performers
The best-performing sector was Financials, up 0.40 per cent. The worst-performing sector was Consumer Discretionary, down 0.99 per cent.
The best-performing stock in the S&P/ASX 200 was Nuix (ASX:NXL)
, closing 7.46 per cent higher at $4.61. It was followed by shares in Megaport (ASX:MP1)
and Nufarm (ASX:NUF)
The worst-performing stock in the S&P/ASX 200 was Kogan.com (ASX:KGN)
, closing 14.27 per cent lower at $10.69. It was followed by shares in Blackmores (ASX:BKL)
and JB Hi-Fi (ASX:JBH)
Japan's Nikkei has lost 0.6 per cent. Hong Kong's Hang Sang has gained 0.7 per cent. China's Shanghai Composite has gained 0.02 per cent.Wall Street
Wall Street wrapped up the last four trading days lower. The Dow Jones has lost 1.1 per cent. The S&P 500 has lost 1.2 per cent. The Nasdaq has lost 1.7 per cent.Commodities and the dollar
Gold is trading at US$1786.67 an ounce.
Iron ore is 2.40 per cent lower at US$183.62 a ton.
Iron ore futures are pointing to a rise of 1.19 per cent.
Light crude has risen $0.28 to US59.74 a barrel.
One Australian dollar is buying 77.31 US cents.