The Australian share market has closed flat, with some investors booking profits, after a seven-day run of gains.
The ASX200 index still closed nearly one per cent higher for the week and repeatedly reached six year intraday and closing highs.
Investors would be looking for a new catalyst to push through current levels ahead of the August company reporting season, IG market strategist Stan Shamu told AAP.
However it was encouraging the market had not been adversely affected so far by bad press related to geopolitical events including the MH17 aircraft tragedy in which Australians died and violent conflict in Gaza, he said.
"It is quite evident there is still quite a lot of risk for markets particularly with earnings coming up," he said.
"You tend to find after a long period of gains some investors then have to take some profits off the table and then wait for the results season to see what plays out."
Most sectors traded in the red with gold stocks making the biggest losses and financial stocks bucking the trend to finish higher.
Newcrest Mining, the nation's largest gold miner, closed lower again after a six per cent fall on Thursday when it flagged asset write-downs of up to $2.5 billion.
Newcrest lost eight cents on Friday to close at $10.70.
The big miners were mixed, with BHP losing six cents to $39, Rio Tinto dropping 16 cents to $65.09 and Fortescue up one cent to $4.58.
Commonwealth Bank added 27 cents to $82.28, Westpac was up 15 cents at $34.28, ANZ gained 17 cents to $33.75 and National Australia Bank was 10 cents higher at $34.59.
* At the close on Friday the benchmark S&P/ASX200 index was 4.3 points, or 0.08 per cent, lower at 5,583.5.
* The broader All Ordinaries index was down 2.6 points, or 0.05 per cent, at 5,574.2.
* The September share price index futures contract was two points lower at 5,530 points, with 23,329 contracts traded.
* The price of gold in Sydney at 1700 AEST was $US1,292.50 per fine ounce, down $US5.90 on Thursday's price of $US1,298.40.
* National turnover was 1.8 billion shares at a value of $5.4 billion.