The share market stumbled today after rising at the open, dragged lower through the session by mining and some bank stocks.
The All Ordinaries fell back 0.2 per cent to 4,307, and the ASX 200 index roughly matched that with an 11 point loss to finish on 4,281.
The Commonwealth Bank posted another record annual profit, as interest rate cuts helped ease bad debts at the bank.
The bank's annual net profit was in line with expectations at just over $7 billion, making it the largest non-mining profit in Australia.
Commonwealth shares rose 0.9 per cent to $56.05 cents.
The other big banks were mixed.
NAB dropped 1.8 per cent to $24.26 as investors digested its flat profit result announced yesterday, ANZ slipped 0.6 per cent, but Westpac edged 0.1 per cent higher.
Shares in casino operator Echo Entertainment gave up 2.6 per cent to $4.07, after Echo reported a steep fall in full year profits to $42 million in its first result since its demerger from Tabcorp.
Echo says revenue was hurt by scandals at The Star casino in Sydney, soft consumer demand, lower win rates and a drop in VIP patrons.
Westfield has seen a rise in its half-year profit, despite a drop in revenue amid ongoing softness in the retail sector.
Westfield shares closed 0.5 per cent higher at $9.63.
The major mining shares dragged on the market.
Rio Tinto gave up 2.5 per cent to close at $55.10 as it traded without its dividend.
BHP Billiton lost 1 per cent to $32.62.
Currencies and commodities The dollar slipped today in line with the share market, just after 5:00pm (AEST) it was buying 104.7 US cents and 84.9 euro cents.
It was also buying 82.6 Japanese yen and 66.8 British pence.
West Texas crude oil closed relatively steady overnight at $US93.4 a barrel.
Tapis crude was also stable at $US116.6 a barrel.
Spot gold dropped overnight but had clawed its way back to around $US1,601 an ounce.