Australian shares are weaker with most of the big banks following a lacklustre lead from Wall Street.
A quarter of a per cent drop on the Dow Jones Industrial Average has been the main drag on the local share market ahead of Australia's upcoming earnings season in February, Morgans senior private client adviser Bill Chatterton says.
"We've basically joined that trend so far," he said.
"It's little bits across the market and nothing significant, nothing sinister."
Shares in the country's largest home lender, Commonwealth Bank, fell 18 cents to $75.73, while Westpac lost 13 cents to $31.82 and ANZ shed nine cents to $31.31. But NAB gained 1.5 cents to $34.305.
Macquarie Group was the best performing financial stock, adding 49 cents, or 0.9 per cent, to $55.42.
In the mining sector, BHP Billiton dropped 17 cents to $37.46 while rival Rio Tinto added 28 cents to $65.57 and iron ore miner Fortescue Metals was four cents firmer at $5.39.
Gold miner Newcrest added 36 cents to $9.70 as the spot price of gold climbed by $US5.39 to $1,237.
Santos added five cents to $14.31 after the energy giant lifted its December quarter sales revenue 21 per cent thanks to stronger oil production and prices.
Warrnambool Cheese and Butter gained three cents to $9.45 after Canadian dairy giant Saputo consolidated its takeover bid, announcing it had won almost 58 per cent of shares in the regional diary producer.
Meanwhile, telco giant Telstra dropped half a cent to $5.215.
- At 1015 AEDT on Thursday, the benchmark S&P/ASX200 index was down 15.3 points, or 0.29 per cent, at 5,304.5.
- The broader All Ordinaries index was down 15.1 points, or 0.28 per cent, at 5,316.2.
- The March share price index futures contract was 22 points lower at 5,258, with 6,666 contracts traded.
- National turnover was 299.5 million securities worth $482.5 million.