AU Evening Wrap: Australia Shares Close 0.2% Lower, Pare Weekly Gains

$S&P/ASX 200 (.XJO.AU)$ closed 0.2% lower at 7073.2, paring its weekly gains. The benchmark index, coming off its strongest month since January, dipped more than 0.6% inside the first hour before reclaiming most of its lost ground through the rest of the session.

Major banks were mixed as the heavyweight financial sector edged 0.2% lower. $CommBank (CBA.AU)$ lost 0.45% and $Westpac Banking Corp (WBC.AU)$ slipped 0.5%, while $National Australia Bank Ltd (NAB.AU)$ added 0.1% and $ANZ Group Holdings Ltd (ANZ.AU)$ rose by 0.25%.