ASX 200 weekly wrap: CBA, Westpac, NAB, ANZ down

Strength across the mining and energy stocks, including gains by heavyweight BHP Billiton, were not enough to offset losses from the big four banks last week.

The S&P/ASX 200 fell 0.35% to 6,185.50 points and the All Ordinaries dropped 0.38% to 6,301.10 points over the course of last week with the financials, industrials and retail-related consumer discretionary sectors weighing the most.

Shares in the Commonwealth Bank, National Australia Bank, Westpac and ANZ sold off heavily during the start of last week after market analysts continued to weigh up the fallout expected from the banking royal commission’s interim report.

This included Westpac’s shares tumbling to a five-year low of $27.13 on Tuesday.

After the steep falls, banking stocks rallied on Friday but it was not enough to offset losses for the week with each of the big four’s share prices shedding 2% or more.

The standout performers for the week were the miners and energy companies with the materials and energy sectors each rising by almost 2%.

BHP Billiton’s share price gained 2.1% to $35.50, while South32 advanced 7.4% to $4.23 following news that an alumina refinery in Brazil, owned by rival Norsk Hydro, was closing.

The top biggest share price gains came from mining related companies, including Lynas Corporation’s shares which jumped 11.6% to $1.79.