ASX Today Live News & Analysis

Australia's share market has fallen for four of the past five weeks following a storm of profit warnings, earnings disappointments, interest rate hikes and fuel security woes.

The S&P/ASX200 fell 9.9 points on Friday, down 0.11 per cent to 8,630.8, as the broader All Ordinaries dipped 14.1 points, or 0.16 per cent, to 8,870.6.

The exchange's recent direction has diverged from most of its global counterparts, particularly Wall Street's S&P500 and tech-heavy Nasdaq indices, which have been resetting record highs every week since mid-April.

CommBank shares rebounded for a second session after Wednesday's disappointing trading update sparked an almost $30 billion sell-off of Australia's biggest bank.??

"By itself, (the update) didn't warrant that 10 per cent sell-off, but when you put it against the backdrop of everything which we've seen over the past six to eight weeks, it certainly was the straw which broke the camel's back," IG market analyst Tony Sycamore told AAP.

"We've seen profit warnings, earnings downgrades, the impact of the RBA rate hiking cycle coming through, fuel security concerns, and then Tuesday night's federal budget, which has unveiled a number of very investor-unfriendly tax changes."

The heavyweight financials sector has fallen by more than 10 per cent from hitting a record high in April.

The energy sector advanced 2.2 per cent despite crude prices easing during the session as oil, gas and coal producers improved but uranium stocks continued to slide.

The basic materials gave away more than half the week's gains as investors took profits on BHP and Rio Tinto after the mega miners smashed multiple record peaks since Tuesday.

Gold miners were under sustained pressure as expectations of US interest rate hikes weighed on the precious metal, which fell to $US4,575 ($A6,388) an ounce, dragging on ASX-listed producers.

Battery minerals and rare earths producers also sold off.

Consumer-facing stocks rebounded after selling off on Thursday, but only discretionary stocks ended the week higher, up 0.8 per cent, while staples tumbled 2.5 per cent since Monday.

Coles had a particularly rough week, its shares falling almost 3.4 per cent after the Federal Court ruled the grocery giant's "Down Down" marketing campaign misled consumers.

In company news, Penfolds owner Treasury Wine Estates jumped almost two per cent after French billionaire Olivier Goudet spent $31 million upping his stake in the winemaker to almost a tenth.

Mineral Resources shares slumped more than seven per cent after managing director Chris Ellison unloaded $112.5 million in stock in an on-market sale.

The Australian dollar is buying 71.59 US cents, down from 72.61 US cents on Thursday at 5pm, after better-than-expected US economic data raised the odds of future Federal Reserve interest rate hikes.

ON THE ASX:

The S&P/ASX200 dipped by 9.9 points, or 0.11 per cent, to 8,630.8

The broader All Ordinaries lost 14.1 points, or 0.16 per cent, to 8,870.6

The NZX 50 Lost -60.06 points (-0.46%) to 12,965.01 while the Nikkei dropped -1244.76 points (-2.03%) at the time of writing, to be closed at 61,409.29

Companies commencing Ex-Dividend Trading Today (ASX 300):

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