Resources lead market down

The sharemarket closed weaker on Friday led by the resources sector as metal prices lost ground overnight.
The market was also affected by the latest monetary policy announcement, which highlighted the possibility of another interest rate rise before the end of the year.
The benchmark S&P/ASX 200 index fell 41.4 points to 4956.1 and the All Ordinaries 40.1 to 4926.1.
Shaw Stockbroking head dealer Jamie Spiteri said softer metals prices and a weaker performance on the European markets had paved the way for a negative day on the domestic bourse.
"The market is a bit weaker and that is despite the fact that US markets had actually closed stronger last night," he said.
"The resource sector, which has obviously been the catalyst for our market regaining support recently, has fallen away here today."
On Wall Street overnight stocks rose in a volatile session. The Dow Jones index rose 42.66 points to 11,242.59.
Locally, the big miners slid back. BHP Billiton fell 30c to $27.66 and Rio Tinto $1.65 to $74.50 despite posting a record interim profit of $US3.75 billion ($4.93 billion).
Energy stocks lost their way. Woodside fell 35c to $41.70, Santos 10c to $11.47 and Oil Search 1c to $3.97.
Most major banks also lost ground. ANZ fell 9c to $25.65, the Commonwealth Bank 4c to $45.86 and NAB 25c to $35.80. Westpac rose 4c to $22.34.
The big four banks have already passed on this week's official interest rate rise by increasing mortgage rates.
Other financial stocks were also lower. Macquarie Bank fell 88c to $60.20 and St George 9c to $28.92.
Beverage firm Foster's bucked the downward trend, rising 3c to $5.35 after selling its brewing interest in Vietnam and India for $US225 million ($295 million).
Retailer Coles Myer also gained ground, up 6c to $10.72. Harvey Norman fell 10c to $3.20 and Woolworths 8c to $19.02.
Telecom New Zealand lost 12c to $3.34 after reporting an annual net loss of more than $NZ400 million ($326 million) and saying it would sell its ailing Australian subsidiary, AAPT.
Telstra fell 6c to $3.88 and Optus parent Singapore Telecom 8c to $2.05. Telstra was also the most traded stock. More than 51.4 million of its shares traded, worth a total of $200.89 million.
Explosives, paint and chemical firm Orica, down 20c to $22.70, said its main task was to find further growth opportunities.
Its chief executive, Graeme Liebelt, said the company had "a very robust" balance sheet after selling its 70 per cent stake in fertiliser company Incitec Pivot.
The spot price of gold in Sydney fell $US3.60 an ounce to $US646.35 at Friday's close.
The goldminers followed suit. Newcrest fell 32c to $19.10, Newmont 2c to $6.80, Lihir Gold 6c to $2.95 and Kingsgate Consolidated 6c to $4.45.