Shares were trading lower on the Australian market amid a raft of coronavirus-impacted results from AMP, Telstra and Woodside.
The S&P/ASX200 benchmark index was trading lower by 33.0 points, or 0.53 per cent, at 6099.0 points on Thursday.
The All Ordinaries index was lower by 27.2 points, or 0.43 per cent, at 6229.8.
Share values have steadily declined since trading opened, despite a positive lead from US markets.
After outperforming all industry sectors for three consecutive days, financials have slumped by 0.9 per cent.
ANZ was down 1.3 per cent to $18.59, the Commonwealth lost 2.6 per cent to $72.40 following Wednesday’s full-year loss, NAB declined 1.3 per cent to $18.03 and Westpac dipped 1.09 per cent to $17.99.
However, shares in AMP have surged after the wealth manager declared a special dividend and a $200 million share buy-back after its first-half result came in as expected.
The stock rose 10.86 per cent to $1.53 after AMP said it would pay a special dividend of 10 cents per share, fully franked.
The board does not expect to pay a final dividend this year.
Gold miner Evolution’s net profit after tax jumped by 38 per cent to $301.5 million, helped by record gold prices.
The miner will pay a final dividend of nine cents per share, fully franked.
This is higher from the 2019 final dividend of six cents per share, fully franked.
Evolution shares were trading up 2.6 per cent to $5.68.
Among other big miners, BHP edged 0.1 per cent lower to $39.87, Rio Tinto lost 0.26 per cent to $101.13 and Fortescue was down 3.0 per cent to $17.58.
Woodside Petroleum reported a first half net loss after tax of $US4,067 million which it blamed on onerous contract provisions.
The interim dividend of 26 US cents per share is lower from the 36 cents per share interim payout in 2019.
Shares were even at $20.59.
The biggest falls however have been in utilities and telecommunications, down 4.1 per cent and 3.8 per cent respectively.
Telco shareholders were not helped by Telstra, which posted a 14.4 per cent fall in annual profit.
The telco’s net profit for 2019/20 was $1.84 billion, down from $2.15 billion in the previous year, on revenue of $23.7 billion, which was in line with expectations.
Telstra shares were down 6.63 per cent to $3.16.
Earlier, US markets closed higher on rising technology stocks. Investors there have been buoyed by a better-than-feared second-quarter earnings season, and hopes of more economic stimulus.
The Australian dollar was buying 71.73 US cents at 1200 AEST, up from 71.28 US cents at Wednesday’s close.