ASX200 slips in quiet Friday trading before US non-farm payroll data

The Australian share market drifted lower on Friday in a quiet day of trading as investors stepped cautiously before the reopening of Wall St and the release of crucial non-farm payroll data.

The benchmark ASX200 shed 9.5 points, or 0.12 per cent, to finish at 7822.3 points, while the broader All Ordinaries index slipped 9 points, or 0.11 per cent, to end at 8070.1.

Tech stocks lifted 7.6 points to finish at 3081.1.

The Aussie dollar gained 0.08 per cent against the Greenback to be buying US67.3c at the closing bell.

Six of 11 industry sectors ended in the green, led by Healthcare with a 0.74 per cent gain.

Wall St was closed overnight for the July 4 holiday in the US.

The non-farm payroll release, which measures the number of jobs gained or lost in the US economy, will provide investors with guidance before the opening bell in New York.

IG markets analyst Tony Sycamore said the big story of the week was the rebound in Australia’s materials and energy sectors, which have lifted about 4 per cent and 3.2 per cent, respectively.

“That has partly been due to solid gains in commodities and energy prices, with crude oil on track for a fourth week of gains,” he said.

Oil is rising on the back of an increase in summer travel and supply concerns flowing from uncertainty in the Middle East and Europe and the

risk of hurricane season to production in The Gulf of Mexico.

Brent crude is trading around $87 a barrel.

Oil and gas giant Woodside edged up 0.1 per cent to close at $29.26 a share for a 4.2 per cent rise across the week.

Santos dipped 0.13 per cent to $7.99 after Saudi Aramco denied reports it could bid for the LNG titan.

“With reference to recent media reports claiming that Aramco is considering an offer for Santos, the company can confirm that such claims are inaccurate,” Saudi Aramco said.

The big iron ore miners were drags on the ASX, with BHP falling 0.85 per cent to $44.39, Rio Tinto declining 1.13 per cent to $122.87 and Fortescue slipping 0.93 per cent to $22.41.

The big banks were mixed, with Commonwealth Bank dipping 0.59 per cent to $127.10, Westpac edging down 0.55 per cent to $27.20 and NAB tumbling 1.69 per cent to $35.16.

ANZ recorded a 0.37 per cent gain to $28.62.

But coal stocks helped buoy the market, with local miners rallying on major disruptions to the Anglo American Grosvenor mine in Central Queensland and an Allegheny Metallurgical mine in West Virginia, which are both battling underground fires.

The shut downs will crimp supply and have produced a spike in coal prices.

Whitehaven Coal lifted 0.34 per cent per cent on Friday to $8.97, finishing the week with a 13.83 per cent gain.

Coronado rose 0.75 per cent to $1.35 for an 11 per cent bump across the week and Stanmore Resources jumped 1.79 per cent to $3.97 to notch a 9.37 per cent rise for the week.

In corporate news, Clinuvel Pharma surged 14.57 per cent to $17.38 on positive results from a study into its afamelanotide drug.

The biggest gainer on the ASX200 was West African Resources, which leapt 5 per cent to $1.44.

The largest laggard was uranium miner Boss Energy, which slumped 6.14 per cent to $3.82.