The Australian sharemarket has closed lower, after the Australian Industry Group and Pricewaterhouse issued their performance of manufacturing (PMI) index for June, revealing that manufacturing activity was at its highest in almost a year.
At the 1615 AEST official market close, the benchmark S&P/ASX200 index had fallen 0.36 per cent to 4591.2 points, while the broader All Ordinaries Index had lost 0.25 per cent to 4647.9 points.
IG Markets analyst Ben Potter said the market was set for a fall after recent gains and as investors took profits before the weekend.
"Given the strength seen this week, it looks like we?re seeing a bout of typical Friday profit taking, especially ahead of a long weekend in the US for Independence Day," Mr Potter said.
"The market has started to look beyond the short-term Greek situation, which is being reflected through the pick-up in risk sentiment and very strong bounce in equities," he said.
Resources stocks regained some earlier losses to close flat, with the major miners closing slightly lower.
BHP Billiton inched down 0.06 per cent to $43.77, after completing its $US10 billion share buy-back early.
BHP also announced it got approval for its Jansen potash project in Canada, following an environmental impact study submitted in December 2010.
Meanwhile, rival Rio Tinto edged down 0.19 per cent to $82.83.
Fortescue Metals gained 0.67 per cent to $6.39 and Sundance Resources shed 4.41 per cent to 32.5 cents.
Rare earths miner Lynas plunged 11.61 per cent to close at $1.75, after announcing it was confident its Malaysian plant could be completed by 2011, but reports emerged the Malaysian government delayed the project by one to two years.
In gold stocks, Newcrest slipped 0.05 per cent to $37.73, while Eldorado Gold fell 0.29 per cent to $13.63.
In crude, Woodside Petroleum gave up 0.24 per cent to $40.90, Oil Search dipped 1.05 per cent to $6.58 and Santos retreated 0.29 per cent to $13.50.
In retail, Woolworths inched up 0.07 per cent to $27.77 and Wesfarmers lost 0.43 per cent to $31.71.
David Jones sank 2.93 per cent to $3.94, while Myer gave up 1.89 per cent at $2.59.
Financial stocks were lower at the close, with ANZ Banking Group falling 0.22 per cent to $21.95 and Commonwealth Bank losing 0.72 per cent to $51.92.
National Australia Bank retreated 0.54 per cent to $25.48 and Westpac Banking Corp sank 1.03 per cent to $22.03.
Investment bank Macquarie Group inched down 0.38 per cent to $31.13.
Blue chip Telstra increased 1.03 per cent to $2.92, while national carrier Qantas fell 0.54 per cent to $1.85, despite announcing both Qanatas and Jetstar are able to resume all New Zealand flights.
In economics news, the Reserve Bank of Australia (RBA) publishes its index of commodity prices for June, and the Australian Office of Financial Management (AOFM) issues $1.25 billion of October 2015 bonds, of which the Reserve Bank of Australia is expected to take up $10 million.
In economics news, the Reserve Bank of Australia (RBA) published its index of commodity prices for June, and the Australian Office of Financial Management (AOFM) issued $1.25 billion of October 2015 bonds, of which the Reserve Bank of Australia is expected to take up $10 million.
On Thursday, the benchmark S&P/ASX200 index closed up 78.5 points, or 1.73 per cent, at 4,608, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4,659.8.
SDL Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
