The local share market has been unable to extend its longest winning streak in nearly a decade, with the benchmark index finishing ever-so-slightly lower but still above the key psychological level of 8,000.
The S&P/ASX200 finished Friday at 8,023.9, down 3.1 points from Thursday, but up 0.7 per cent for the week.
The broader All Ordinaries dropped nine points, or 0.11 per cent, to 8,249.1.
Naeem Aslam, chief investment officer of Zaye Capital Markets, said markets were trading with caution ahead of Federal Reserve chairman Jerome Powell's address to an annual monetary conference in Jackson Hole, Wyoming.
Mr Powell is due to speak at midnight Sydney time on Friday, and traders will be keeping an eagle eye on his speech for any hints about the pace of interest rate cuts.
"The Fed chairman's important job now is to not give any false hopes to the market while managing expectations with a fine line," Mr Aslam said.
Five of the ASX's 11 sectors finished lower on Friday and five closed higher. Utilities was the biggest mover, dropping 1.3 per cent as Origin Energy fell two per cent.
Inghams was the biggest loser in the ASX200, falling 20.2 per cent to a one-year low of $3.09 after the poultry producer disclosed its new supply contract with Woolworths, its biggest customer, would cut volumes.
Chief executive and managing director Andrew Reeves called it a manageable change driven by Woolworths' desire to ensure it had a diversity of poultry suppliers to safeguard against disruptions.
Spark fell 7.4 per cent to a four-year low of $3.63 after the Kiwi telecommunications company announced its full-year profit was down 72 per cent to $NZ316 million ($A289 million).
“It has been a challenging year for Spark and for many businesses across Aotearoa, with recessionary economic conditions creating a tough operating environment," chairwoman Justine Smyth said.
Telix dropped 3.0 per cent to $19.18 after the Melbourne-based radiopharmaceutical company announced it had swung to a first-half net profit of $29.7 million, compared to a $14.3 million loss a year ago.
Managing director and chief executive Dr Christian Behrenbruch said Telix believed the radiopharmaceutical sector was at an inflection point and it had the proven commercial ability to advance its product pipeline.
Accent Group dropped 15.3 per cent to a two-week low of $2.05 after the Athlete’s Foot, Platypus Shoes and Hype DC shoe store owner announced its full-year profit had dropped by nearly a third, to $59.5 million.
"In the context of a more challenging consumer environment, I am pleased with the performance of the Accent team," said chief executive Daniel Agostinelli.
On the flip side Fisher & Paykel Healthcare soared 11.9 per cent to a three-year high of $32.83 after the Kiwi respiratory product company upgraded guidance.
“The year to date has begun strongly across all products and regions," said managing director and CEO Lewis Gradon.
In the financial sector, ANZ dropped 2.2 per cent to $29.30 after financial regulator APRA required it to hold an additional $250 million in risk capital following issues in its markets business.
Insurance companies IAG, Suncorp and QBE all gained around a percentage point.
In the heavyweight mining sector, Fortescue fell 2.0 per to $17.97, BHP dipped 0.8 per cent to $40.67 and Rio Tinto retreated 1.3 per cent to $110.73.
Goldminers were mostly lower as the price of the precious metal slipped $US2,490, with Evolution falling 0.7 per cent and Red5 dropping 5.4 per cent.
ON THE ASX:
* The benchmark S&P/ASX200 index finished Friday down 3.1 points, or 0.04 per cent, at 8,027.0
* The All Ordinaries dropped 9.0 points, or 0.11 per cent, to 8,249.1.
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 67.27 US cents, from 67.45 US cents at Thursday's ASX close
* 97.83 Japanese yen, from 97.98 Japanese yen
* 60.45 euro cents, from 60.46 euro cents
* 51.26 British pence, from 51.49 pence
* 109.26 NZ cents, from 109.48 NZ cents
