The Australian share market closed lower on Monday, as weaker commodity prices pulled back resources stocks
At the 4.15pm close, the benchmark S&P/ASX200 index had fallen 25.7 points, or 0.55 per cent, to 4,676.5, while the broader All Ordinaries index had reversed 26 points, or 0.55 per cent, to 4695.2.
On the Sydney Futures Exchange, the December share price index futures contract lost 30 points to 4,676, on volume of 26,927 contracts, according to preliminary calculations.
IG Markets research analyst Ben Potter said a sharp rise in the US dollar had sent commodity prices south, and financial stocks were also weaker.
The US dollar lifted in the wake of better than expected US jobs data for November, which prompted speculation that US interest rates will rise.
"The market looks tired. Investors seem happy to lock in profits following a tough year, seemingly wanting to rule a line through 2009 and come back refreshed in the new year,'' Mr Potter said.
"Having said that, the market doesn't seem overly concerned as volumes are light and selling is orderly.''
Among the major banks, Commonwealth Bank shed 17 cents to $53.79, National Australia Bank sagged 10 cents to $28.00 and ANZ eased three cents to $21.95.
Westpac retreated 15 cents to $23.89, as it elevated the head of the bank's BT Financial arm to lead its retail and business banking business.
In the resources sector, global miner BHP Billiton fell 79 cents to $40.61.
Rio Tinto descended 26 cents to $71.59 as it moved its investments in carbon capture and storage technology away from natural gas feedstock and towards coal and petcoke.
Oil and gas producer Woodside Petroleum was 80 cents poorer at $48.30 and Santos sagged 15 cents to $14.75.
Origin Energy was two cents richer at $15.73 as it was prevented from buying the full 51.55 per cent stake in the
Otway Gas Project it sought from Woodside Energy, after a joint-venture partner decided to exercise its pre-emption right in the project.
On Wall Street on Friday, the Dow Jones Industrial Average index firmed 22.75 points, or 0.2 per cent, to 10,388.90 points.
In the gold sector, Newmont was off 19 cents at $5.63, Newcrest slumped $2.30 to $36.00 and Lihir lost 17 cents to $3.36.
The price of gold in Sydney at 4.24pm was $US1156.80 per fine ounce, down $US46.47 on Friday's closing proce of $US1203.27.
Telco Telstra firmed three cents to $3.45, and Optus-owner Singapore Telecommunications was steady at $2.35.
Retailer Woolworths was 15 cents lower at $27.65 and Wesfarmers, which owns Coles, scraped off one cent at $28.79.
In the media sector, News Corp was 57 cents heavier at $15.72, and its non-voting stock was also up 57 cents, at $13.27.
Consolidated Media hovered at $3.10 and Fairfax slipped 1.5 cents to $1.62.
The top-traded stock by volume was oil and gas explorer Monitor Energy, with 252.8 million shares worth $1.01 million changing hands. Monitor Energy was up 0.1 cents at 0.4 cents.
Preliminary national turnover was 2.65 billion shares worth $4.42 billion, with 681 stocks down, 430 up and 306 unchanged.
