Shares ended the week little changed, with some strong earning-related gains from Super Retail and Medibank capping off some dramatic moves in individual stocks over the five sessions.

The S&P/ASX 200 index inched 2 points lower on Friday to 5744, which brought the week's losses to 3 points.

The lack of movement at the headline level concealed some dramatic underlying price moves, as the busiest week of earnings season produced some big individual winners and losers.

Among those punished by investors were BlueScope Steel, which plunged 20 per cent over the week, Healthscope, which sank 17 per cent and telco Vocus, which was whacked 23 per cent.

It was a week of strong gains for resources stocks, as earnings results from big energy and mining stocks were enthusiastically received. BHP added 5.1 per cent, Rio Tinto 6.5 per cent and Fortescue Metals a hefty 9.2 per cent. Santos soared 11 per cent and Oil Search 8.6 per cent, while Woodside Petroleum, which didn't report this week, nonetheless lifted 3.2 per cent.

Resources have been the clear standout this reporting season, noted UBS equity strategist David Cassidy.

But, more broadly, results and guidance overall has been underwhelming in a reporting season that's now around 80 per cent complete.

"Disappointments have been concentrated in the ex-resources and ex-banks segment of the market, with insurance and telecommunications the weakest sectors," he noted.

Another outperformer this week was a2 Milk, which jumped 13.6 per cent.

Among Friday's results, standouts were Medibank and Super Retail Group, which over the session added 6.7 per cent and 7.3 per cent, respectively. Qantas lifted 3.8 per cent on Friday as it revealed its profits.

A 3.4 per cent fall in heavyweight Woolworths over the week following its earnings release helped counterbalance the strength in resources, as did a 1.6 per cent drop in CBA. Also weighing over the week were IAG, which dropped 5.1 per cent, and Brambles, which lost 4.3 per cent. Both released earnings this week.

Markets are now looking ahead to a meeting of economic leaders that's taking place at Jackson Hole in Wyoming. Federal Reserve chief Janet Yellen to set to speak, as is European Central Bank head Mario Draghi.

"Each policy maker must convince the markets of the earnestness of their intentions. Ms Yellen needs to reassure traders that the Fed will indeed pursue its tightening path and that a rate hike in December is a near certainty," said Boris Schlossberg of BK Asset Management.

"Mr Draghi, on the other hand, must dampen any expectations of an immediate taper despite the fact that conditions in the Eurozone have improved materially and ultra - accommodative policy is no longer necessary."

Markets are broadly becalmed ahead of this meeting. The ASX has traded in a 100-point range for about three months.

"This environment should start to fade next week as the data cycle picks up and the summer holidays draw to a close," noted ANZ's David Plank.