The Australian share market has snapped its five-day winning streak with its first loss of 2025 - but finished at its highest level of the day.
The benchmark S&P/ASX200 index, which was down as many as 57 points about midday, ended Thursday just 19.9 points lower at 8,329.2, a loss of 0.24 per cent.
The broader All Ordinaries dropped 21.6 points, or 0.25 per cent, to 8,577.8.
Minutes from the Federal Reserve's December meeting, released overnight, did not shed much new light on the US central bank's thinking.
Closer to home, the Australian Bureau of Statistics disclosed that retail sales rose 0.8 per cent in November, up from 0.5 per cent in October but beneath consensus expectations of a 1.0 per cent jump.
Commonwealth Bank economist Harry Ottley called the readout "slightly disappointing" but said it had a limited impact on financial markets, with CBA still predicting the Reserve Bank would cut rates in February.
The Australian dollar fell to a one-week low of 61.94 US cents following the report, down from 62.31 cents at Wednesday's close of business and not far from the two-year nadir of 61.79 US cents hit last week.
Ben Udy, lead economist for Oxford Economics Australia, said the growing popularity of Black Friday sales had made it difficult to get a read on the underlying strength of consumption from the data, as the rise in November would likely be offset by a contraction in December.
But the 1.5 per cent rise at cafes and restaurants suggested a lift in spending outside Black Friday sales and overall, this week's data showed inflation was easing while the labour market remained tight and consumption appeared solid, Mr Udy said.
"This provides a mixed picture for the RBA in February, but we still expect the bank will hold off cutting rates until at least May," he said.
Eight of the ASX's 11 sectors finished lower, with mining/materials and utilities higher and health care basically flat.
Industrials were the biggest loser, down 0.9 per cent as Computershare fell 3.4 per cent and Reliance Worldwide lost 3.1 per cent.
In the mining sector, Westgold plunged 13.7 per cent to an almost three-month low of $2.53 after the goldminer issued a quarterly production update that some believed cast doubt on its ability to meet its full-year targets.
Other goldminers were mostly higher as the precious metal changed hands for $US2,658 an ounce, with Northern Star up 2.9 per cent and Newmont advancing 2.6 per cent.
Elsewhere in the sector, BHP dipped 0.3 per cent to $39.27 but Rio Tinto grew 0.5 per cent to $116.45 and Fortescue climbed 1.9 per cent to $17.91.
Star Entertainment Group was by far the biggest loser in the All Ordinaries, plunging by a third to an all-time low of 13 cents following the casino operator's disclosure it had just $79 million left in available cash after burning through $107 million in the past three months.
All of the big four banks finished lower, with CBA down 0.6 per cent to $158.79, NAB dipping 0.4 per cent to $38.36 and ANZ and Westpac both retreating 0.5 per cent, to $29.37 and $33.16.
Macquarie had gained 1.8 per cent to $234.10.
ON THE ASX:
* The benchmark S&P/ASX200 index on Thursday dropped 19.9 points, or 0.24 per cent, to 8,329.2
* The broader All Ordinaries fell 21.6 points, or 0.25 per cent, at 8,577.8
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 61.94 US cents, from 62.31 US cents at Wednesday's ASX close
* 97.99 Japanese yen, from 98.54 Japanese yen
* 60.15 euro cents, from 60.18 euro cents
* 50.32 British pence, from 49.90 pence
* 110.73 NZ cents, from 110.54 NZ cents
