Bell Potter

Market Update: Following the retreat in the US equity markets overnight the S&P/ASX 200 was lowered 0.3% to 5,261 points. The RBA decided to leave the cash rate at 2.50%, as widely expected. All major banks down between 0.2% and 1.1%, and resources were also weak, especially gold stocks which declined 2.7% last night. BHP fell 1.3%, RIO fell 0.7%, Newcrest dropped 6.7% and Evolution Mining sank 12.6%. The AUD is currently trading at US$0.9085. The SPI was down 0.3% at 5,268 points on the Sydney Futures Exchange.


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