The Australian share market has opened lower, with the heavyweight mining sector leading losses.
The benchmark S&P/ASX200 index was down 31 points, or 0.46 per cent, to 6,720.3 points at 1015 AEST on Monday, while the broader All Ordinaries was down 29.4 points, or 0.43 cent, to 6,802.4.
The materials sector slumped 1.19 per cent after the first 15 minutes of trading.
Mining giant BHP was down 1.62 per cent to $40.62 while Rio Tinto was down 1.92 per cent to $101.93 and Fortescue Metals was down 1.82 per cent to $8.64.
Only the consumer discretionaries and tech sectors were in positive territory while energy shares were flat.
All four big banks – ANZ, Commonwealth, NAB and Westpac – were lower at the start of trading.
Wall Street fell on Friday, with the Dow Jones Industrial Average closing down 0.16 per cent, the S&P 500 was down 0.18 per cent and the tech-heavy Nasdaq Composite was down 0.10 per cent.
Strong US jobs data for June released on Friday lowered the prospect of the country’s central bank deciding on a hefty cut to interest rates and boosted the US dollar.
The Aussie dollar is buying 69.82 US cents from 70.17 US cents on Friday.