By Oliver Gray
Investing.com - The S&P/ASX 200 finished Friday’s session 31.00 points or 0.42% lower at 7,353.50, extending losses for the second consecutive session but ending the week 1.6% higher as fears around the coronavirus Omicron variant cooled ahead of key U.S. inflation data due later in the session.
Among stocks, technology companies retraced early losses to close higher. Appen Ltd (ASX:APX) added 0.51%, Xero Ltd (ASX:XRO) gained 0.33%, Wisetech Global Ltd (ASX:WTC) lifted 3.06% and Technology One Ltd (ASX:TNE) added 0.16%.
BNPL names declined after the federal government announced a proposal to regulate crypto, fintechs and buy now, pay later platforms earlier in the week. Zip Co Ltd (ASX:Z1P) fell 2.37% and Afterpay Touch Group Ltd (ASX:APT) lost 4.01%.
Banks closed lower as Australia and New Zealand Banking Group Ltd (ASX:ANZ) fell 0.51%, National Australia Bank Ltd (ASX:NAB) shed 0.21%, Commonwealth Bank Of Australia (ASX:CBA) dipped 0.26% and Westpac Banking Corp (ASX:WBC) lost 0.81%.
Heavyweight mining companies finished mixed, with Rio Tinto Ltd (ASX:RIO) up just 0.03% while BHP Billiton Ltd (ASX:BHP) and Fortescue Metals Group Ltd (ASX:FMG) lost 0.6% and 0.82% respectively.
Oil related stocks fell. Woodside Petroleum Ltd (ASX:WPL) lost 0.72%, Oil Search Ltd (ASX:OSH) fell 2.42%, Beach Energy Ltd (ASX:BPT) 1.65% and Santos Ltd (ASX:STO) fell 2.11%.
On the bond markets, Australia 10-Year yields were lower at 1.646% while United States 10-Year yields were steady at 1.497%.
In New Zealand, the NZX 50 added 0.61% to 12,850.