Bell Potter

Market Update: The S&P/ASX 200 fell 0.5% at 5,357 points on concerns that U.S. stocks may not sustain their recent rally. Financials were soft with all the major banks down between 0.3% to 0.4%. Resources were also lower as commodity prices fell overnight. BHP and RIO both gave up 0.5% and 0.9% respectively. The AUD is trading a touch lower at US$0.9375 after RBA signalled that the dollar remained uncomfortably high and it had not ruled out further rate cuts. The SPI was down 0.5% at 5,369 points on the Sydney Futures Exchange.


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