Market Update: The S&P/ASX 200 fell 0.4% to 5,122 points on the back of the US and European equity markets' retreat last night

Bell Potter
Bell Potter Stockbroker

Market Update: The S&P/ASX 200 fell 0.4% to 5,122 points on the back of the US and European equity markets' retreat last night. Resources, with the exception of gold stocks, were a drag to the market with BHP falling 1.7% and RIO 0.8% lower. Gold miners were upbeat as the yellow metal jumped 1.8% last night. Resolute Mining and St. Barbara both surged more than 17.0%. OZ Minerals dropped 10.7%, recovering from a 32.7% fall earlier on, after a disappointing outlook for CY14 and CY15. The major banks could not hold to their earlier gains to be down between 0.1% to 0.5%. The AUD slipped from last night's rise to be trading at US$0.9133. The SPI was down 0.4% at 5,125 points on the Sydney Futures Exchange.

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