The Australian share market has closed lower as financial stocks dragged down the bourse ahead of the release of important jobs numbers in the US.
CommSec market analyst Steve Daghlian said trading volumes had been thin on Friday as local investors reacted to a fifth consecutive day of losses in the US and Europe.
"We're seeing a little bit of weakness following that lead from Wall Street," Mr Daghlian said.
"But the losses haven't been great. The market is really treading water ahead of the US non-farm payrolls tonight, the most important data all week."
Global markets fell after surprisingly good US economic growth in the third quarter raised expectations that the US Federal Reserve will hasten plans to taper its economic stimulus program.
A stronger than expected US jobs number on Friday could lead to further falls.
The local market has closed lower on five of the past six trading days.
In the banking sector Westpac rose two cents to $31.51, Commonwealth Bank fell 33 cents to $75.17, ANZ fell 20 cents to $30.99, and National Australia Bank lost 19 cents to $33.47.
Among the resources companies, global mining giant BHP Billiton eased three cents to $36.75, and Rio Tinto picked up 41 cents at $66.41.
Market debutant Nine Entertainment Co lost seven cents to $1.98 after opening at $2.02.
The company, which owns the Nine Network, Ticketek and ninemsn, listed on the Australian Securities Exchange at $2.05 per share.
Airline Qantas fell four cents to $1.03 after ratings agency Standard and Poor's downgraded the airline's credit rating, increasing the cost of financing and restricting access to investors that do not invest in lower-rated companies.
Meanwhile, new arrival Dick Smith was flat at $2.24 after listing earlier in the week at $2.20.
Travel agency Flight Centre shares dropped three per cent to $46.00 after the consumer watchdog won a price fixing case against it in the federal court.
* At the close on Friday, the benchmark S&P/ASX200 index was 12.0 points, or 0.23 per cent, lower at 5,186.0.
* The broader All Ordinaries index was down 10.9 points, or 0.21 per cent, also at 5,186.0.
* The December share price index futures contract was 28 points lower at 5,183, with 28,446 contracts traded.
* The price of gold in Sydney was $US1228.14 per fine ounce, down $US18.66 on Thursday's closing price of $US1246.80.
* National turnover was 1.4 billion securities worth $3.4 billion.