Over the week, the benchmark S&P/ASX200 fell 94.8 points, or 1.7 per cent, to 5454.3. The broader All Ordinaries dipped 88.3 points, or 1.6 per cent to 5433.8.

On Friday the ASX200 ended a four-day losing streak, adding 11.6 points, or 0.2 per cent, while the All Ordinaries gained 10.3 points, or 0.2 per cent.

Tribeca Investment Partners senior fund manager Sean Fenton said he expected the ASX to stall around these levels.

"It's hard to really find the impetus to drive it higher in the short-term. We've still got the domestic economy looking a little bit foggy," Mr Fenton said.

"The only think that provides material upside to the market is currency probably still has a far bit left to fall, but that process in itself, whilst it's falling, can actually weigh on the market a bit."

On Wall Street overnight, losses among energy stocks, with oil hovering near a four-year low, overshadowed better-than-expected results from Wal-Mart .

Brent crude plunged 4.5 per cent in the US overnight session on Thursday and is down 7 per cent for the week, now trading at $US78.03 per barrel.

Energy shares on the local market had a rough week as a result; Santos slipped 6.3 per cent to $11.98, Origin Energy lost 6.3 per cent to $13.63 and Oil Search finished the week 5.8 per cent lower at $8.19.

Elsewhere amongst resources, the price of iron ore was relatively stable for the week, added 0.2 per cent to $US75.98 per tonne.

However, for the week, BHP Billiton shares shed 3.6 per cent to $33.25, Rio Tinto shares fell 1.1 per cent to $60.05 and iron ore pure-play Fortescue Metals lost 3.2 per cent to $3.05.

Westpac chief executive Gail Kelly announced her retirement on Thursday from the bank she has led since 2008. Westpac shares finished the week 5.2 per cent lower at $33.03.

Over the week, the other big banks, Commonwealth Bank dipped 1.2 per cent to $81.77, National Australia Bank dropped 1.6 per cent to $32.69 and ANZ ended 1.7 per cent lower at $32.33.

GrainCorp shares finished the weelk 4.9 per cent lower at $8.09, following a 64 per cent dive in full-year profit, thanks largely to $44 million in one-off charges.

Department store Myer was down 5.6 per cent at $1.785 to round out the week. The retailer reported near flat sales growth of 0.1 per cent in the first quarter.

Shares in struggling free-to-air broadcaster Ten Network finished the week slipped 1.9 per cent to 26.5¢. On Monday The Australia Financial Review revealed that US media conglomerate Time Warner has expressed interest in a $680 million takeover.

Seven West Media shares shed 4.8 per cent for the week, after the TV, newspapers and magazine company warned profits may be down by as much as 10 per cent in the first half, however it stuck it its full year guidance.