Updates to market close

By Nikita Maria Jino

Dec 6 (Reuters) - Australian shares slipped to their lowest in more than a week on Friday, led by miners, banks and healthcare, as traders were cautious ahead of a key U.S. jobs report, while Iluka Resources ILU.AX tumbled 10% after a revised refinery funding deal.

The S&P/ASX 200 index .AXJO fell 0.6% to finish at 8,420.9 points. The index is down 0.2% for the week even as it hit an all-time high of 8,514.50 on Tuesday.

Sectors across the board fell, tracking overnight declines on Wall Street, ahead of the U.S. nonfarm payrolls data, due 1330 GMT. An elusive interest rate cut by the Reserve Bank of Australia $(RBA)$ also weighed on sentiment. 0#RBAWATCH

Mathan Somasundaram, CEO of Deep Data Analytics, said while the benchmark's momentum was positive, valuations, leading indicators and economic cycle were pointing in the opposite direction.

A recent Reuters poll indicates the RBA will hold key cash rate steady next week, with a majority of analysts polled forecasting the first cut in second-quarter next year.

Miners .AXMM lost 0.4%, with sector giants BHP BHP.AX ending marginally higher and Rio Tinto RIO.AX falling 0.8%.

Any negative news out of China and a higher U.S. dollar may play into the commodities and market outlook in the short term, Somasundaram said.

Iluka Resources ILU.AX ended 10% lower after a revised funding deal with the Australian government to develop a rare earths refinery raised concerns over its debt level.

Analysts at Sandstone Insights forecast Iluka's debt levels to reach A$1 billion by fiscal 2027 from a net cash level of A$154.2 million as of June end.

Healthcare stocks .AXHJ slipped 0.5% led by biotech major CSL CSL.AX, which fell as much as 1.5% but pared losses to end 0.3% lower.

Banks .AXFJ also lost 0.7%, with three of the Big Four lenders losing around 0.4%, while Westpac WBC.AX fell around 1.4%.

In New Zealand, the S&P/NZX 50 index .NZ50 ended 0.7% lower at 12,809.59 points. It was down nearly 2% this week, its biggest weekly drop since Sept. 20.

(Reporting by Nikita Maria Jino in Bengaluru; Editing by Eileen Soreng)

((Nikita.Jino@thomsonreuters.com;))

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