Australian shares fell short of closing at a record high on Friday as traders awaited key US jobs data that will shed light on the scope for further interest rate cuts by the Federal Reserve.

The S&P/ASX 200 closed just 9.3 points, or 0.1 per cent lower, at 8511,43 points on Friday afternoon in a volatile session. The index slipped 0.2 per cent this week but came 21 points from hitting a new peak. The Australian dollar rose 2.2 per cent this week to US62.84c following a run of wild swings.

Five of 11 sectors were lower, with energy stocks falling the most. The index opened lower, before turning positive, then turning negative again in thin trading as investors await the January jobs report on Saturday morning. Consensus suggests the number of jobs will fall by almost 100,000 from 256,000 jobs created in December.

Banks retreated, then pared losses, and Commonwealth Bank reset a new closing record. The stock closed up less than 0.1 per cent higher at $162.67. NAB gained 0.8 per cent.

Energy stocks detracted, tracking a steep fall in oil prices overnight. Brent crude traded below $US75 a barrel. Beach Energy posted the largest loss on the ASX, tumbling 5.2 per cent at $1.37.

A fall in coal prices overnight dealt a blow to Australia’s coal miners. Yancoal was 3.8 per cent lower, Whitehaven Coal dropped 3.9 per cent to $5.98. The ICE Newcastle coal futures contract tumbled 7.1 per cent this week to $US113.50 a tonne.

Meanwhile, reports that Chinese electric vehicle battery maker CATL has restarted its lepidolite mine in Jiangxi hit lithium miners on Friday. Liontown Resources sunk 4.8 per cent to 66c, while Pilbara Minerals dropped 4.3 per cent to $2.23 and Patriot Battery Metals fell 5.9 per cent to 32¢.

Stocks in focus

In corporate news, Domino’s Pizza shares leapt 21.3 per cent to $35.93 after the company announced the closure of 205 loss-making stores.

Nick Scali shares rocketed 10.5 per cent to $18 after the company posted net profit of $36 million for the half-year to December, exceeding guidance.

Sigma Healthcare rose 3.2 per cent to $2.92 after it upgraded full-year guidance for earnings before interest and tax, pointing to a boost from its Chemist Warehouse supply contract to business performance. The merger of the two companies is taking place this month.

REA Group shares rose 2.8 per cent to $262.12, extending a two-day rally on Friday after Morgan Stanley reiterated its overweight rating, following a strong set of results that saw revenue jump 20 per cent year-on-year.

And a wave of profit-taking hit News Corp on Friday following its rally in the prior session – even as Morgan Stanley reiterated an overweight on the stock. The shares fell 3.8 per cent to $54.14.