Australia shares slip on banks; NZ flat

[MELBOURNE] Australian shares closed slightly weaker on Friday, with the big banks steering the market as they had all week in volatile trade, while miners dropped over global growth worries. New Zealand ended flat.

The S&P/ASX 200 index fell 1.18 points to close at 4,880 and ended the week 1.5 per cent lower.

Top grocer Woolworths closed up 2 per cent after plumbing a near 10-year low on a disappointing one-third drop in half-year earnings.

New Zealand's benchmark S&P/NZX 50 index lost less than a point to close at 6,224.98, and finished the week up 1.4 per cent, posting its second week of gains.

REUTERS