At closing bell, the benchmark S&P/ASX200 declined 57.27 points, or 0.84%, to 6,760.71. The broader All Ordinaries dropped 67.22 points, or 0.95%, to 7,000.65.

Healthcare and materials finished as the two biggest drags on the local bourse today, as CSL, BHP and Rio Tinto all went ex-div, falling between 4 and 7% respectively. Woolworths was also ex-dividend today, dropping 2.64%.

Shares in Afterpay had lost 2% by 4:00pm to $118.32, while Zip Co was down 4.3% to $10.09. Small business accounting firm Xero was down 2.61% to $115.90 despite unveiling its largest acquisition to date, a $284 million purchase of European workplace platform Planday.

The local financial sector provided a counterbalance to today's fall, with the big four banks posting gains along with insurance company QBE, which rose 2.8% as investor welcomed the announcement of a new CEO.

In economic news: Australia Retail Sales Up 0.5% On Month In January-Australia total value of retail sales was up a seasonally adjusted 0.5% on month in January, the Australian Bureau of Statistics said on Thursday, coming in at A$30.512 billion, following the 4.1% decline in December. Individually, sales were higher for food (1.6%), household goods (0.1%) and other (1.4%). Sales were down for clothing (-3.6%), department stores (-0.4%) and restaurants (-0.8%). On a yearly basis, the value of retail sales was up 10.6%.

Australia Posts A$10.142 Billion Trade Surplus In January-Australia posted a seasonally adjusted merchandise trade surplus of A$10.412 billion in January, the Australian Bureau of Statistics said on Thursday, following the upwardly revised A$7.133 billion surplus in December. Exports were up 6.0% on month or A$2.316 billion to A$39.849 billion after gaining 3% in the previous month. Imports were down 2.0% on month or A$694 million to A$29.707 billion after slipping 2% in December.

CURRENCY NEWS: The Australian dollar changed hands at $0.7801, weaker than levels above $0.792 seen last week.

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