Bell Potter

Market Update: The S&P/ASX 200 edged down 0.1% to 5,426 points on the back of a mostly down day in the U.S. and European equity markets overnight. CBA shares gained 1.3%, hitting an all time high of $78.40 after its first quarter profit exceeded expectation at $2.1bn. Other banks were mixed. ANZ gained 0.1% while both NAB and WBC were down 0.1% and 0.4% respectively. Resources gained, especially iron ore miners as the physical metal rose again last night. FMG climbed 4.2% while Atlas Iron jumped 6.4%. The A$ is currently trading at US$0.9512. The SPI was down 0.1% at 5,412 points on the Sydney Futures Exchange.


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