Australia's share market had a downbeat finish to a rewarding April for investors, as attention turns to big banks' earnings next week.
The benchmark S&P/ASX200 index on Friday closed lower by 56.5 points, or 0.8 per cent, to 7025.8.
The All Ordinaries closed down by 55.3 points, or 0.75 per cent, to 7290.7 points.
The market's drop was the biggest of April.
The biggest losses were in energy shares - 1.74 per cent.
There were losses of more than one per cent in information technology, materials and health.
Investors may have reacted to the ASX200 on Thursday closing at its highest level since the start of the coronavirus crash in February last year.
However April proved pleasant for those with money in the market. The ASX200 gained 3.46 per cent, its biggest rise since November's record of almost 10 per cent.
Think Markets analyst Carl Capolingua expected the momentum would continue in the big bank's first-half earnings next week.
Fewer customers are struggling as the economy recovers from the pandemic, while the housing market is soaring.
"We're expecting pretty good results," Mr Capolingua said of the banks.
"They'll report stronger growth in underlying cash earnings."
He said longer term rates climbed in February and March, which would help banks make more money from loans.
Westpac will give its earnings on Monday. ANZ will follow on Wednesday, while NAB is due Thursday.
The Commonwealth will give a third-quarter update the following week.
In the US, the S&P 500 closed at a record high, fuelled by gains in Facebook following its strong earnings report.
US economic growth accelerated in the first quarter, fuelled by massive government aid to households and businesses.
On the ASX, shares in energy provider Beach plunged after the company scrapped its five-year outlook, having revealed it expects to produce less oil from its sites in South Australia.
Beach lowered its estimate of its oil and gas reserves at the Western Flank of the Cooper Basin by five per cent, or 17.6 million barrels of oil and 7.2 million barrels for gas.
Shares closed lower by 24.11 per cent to $1.27.
AMP avoided a second strike and board spill from its pay report.
About 76 per cent of shareholders voted for the pay deal at the annual general meeting, which included retention payments to senior AMP staff and payouts to outgoing chief executive Francesco De Ferrari.
AMP also flagged a restart to its share buyback, put on hold last year.
Shares were down 1.76 per cent to $1.11.
In banking, ANZ declared its first-half cash profit would be lower by $817 million, due to accounting losses and write-downs.
Shares were down 0.69 per cent to $28.74. All the big four banks were lower.
The big miners were mixed. BHP declined by 1.97 per cent to $47.70, Fortescue rose 0.04 per cent to $22.59 and Rio Tinto dropped 1.68 per cent to $121.15.
Next week, the Reserve Bank board on Tuesday will consider changes to policy settings, including the record low cash rate of 0.1 per cent. Economists do not expect change.
On Thursday, Rio Tinto will have its annual general meeting. Shareholders may pose more questions over the miner's destruction of Aboriginal caves in Western Australia last year.
On Friday, the Reserve Bank will give its statement on monetary policy.
Macquarie Bank will deliver its full-year earnings.
The Australian dollar was buying 77.68 US cents at 1725 AEST, lower from 77.95 US cents at Thursday's close.
ON THE ASX
* The benchmark S&P/ASX200 index closed lower by 56.5 points, or 0.8 per cent, to 7025.8 on Friday.
* The All Ordinaries closed down by 55.3 points, or 0.75 per cent, to 7290.7 points.
* At 1725 AEST, the SPI200 futures index was higher by 11 points, or 0.16 per cent, to 7013.
One Australian dollar buys:
* 77.68 US cents, from 77.95 cents on Thursday
* 84.53 Japanese yen, from 84.73 yen
* 64.16 Euro cents, from 64.26 cents
* 55.84 British pence, from 55.80 pence
* 107.30 NZ cents, from 107.32 cents.