The Australian share market had closed lower weighed down heavily by reports concerning the financial status of Deutsche Bank.

At the close on Friday, the S&P ASX/200 index was down 35.4 points, or 0.65 per cent, at 5,435.9, and the All Ordinaries was down 33.1 points, or 0.6 per cent, at 5,525.1 points.

CMC Markets chief market strategist Michael McCarthy said the reason why the Australian stock market fell on Friday was because of the weak gains recorded on the financial sector which constitutes half of the index's value.

At the close, ANZ was down 0.43 percent, the National Australia Bank declined 1.09 percent, Westpac lost 1.30 percent, while the Commonwealth Bank of Australia fell 1.36 percent.

BHP Billiton was unchanged, rival Rio Tinto was 0.66 percent lower while gold miner Newcrest retreated 0.94 percent.

Oil Search rose 1.43 percent, Santos declined 1.09 percent while Woodside Petroleum surged 0.70 percent.

Wesfarmers jumped 0.14 percent while rival Woolworths rallied 0.04 percent.

Qantas shed 0.32 percent while telecommunication giant Telstra's advanced 0.97 percent at Friday's close. 

Source : XINHUA