Market Update: The S&P/ASX 200 edged down 0.2% to 5,418 points on the back of a lower close in the U.S

Bell Potter

Market Update: The S&P/ASX 200 edged down 0.2% to 5,418 points on the back of a lower close in the U.S. equity markets last night. Resources were down as physical metals prices retreated overnight with BHP slipping 0.4% and RIO dropping 0.7%. Financials were mixed with ANZ being the only major bank among its peers to be down, easing 0.2%. CBA was flat while NAB and WBC were up 0.7% and 0.9% respectively. MQG jumped 4.4% after half year profit rose by nearly 40% and it will distribute its $1.4bn worth of Sydney Airport holdings to its shareholders. David Jones surged 6.3% after first quarter sales rose by 2.1%. The A$ is currently trading at US$0.9478. The SPI was down 0.3% at 5,402 points on the Sydney Futures Exchange.


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