Market Update: The S&P/ASX 200 pulled back 0.5% to 5,417 points after recent run-up and on the back of a directionless U.S

Bell Potter
Bell Potter Stockbroker

Market Update: The S&P/ASX 200 pulled back 0.5% to 5,417 points after recent run-up and on the back of a directionless U.S. equity markets overnight. Resources were weak with BHP down 1.0% and RIO lower by 1.7%. Financials were mixed with the major banks, CBA being the exception down 1.0%, rising higher as ANZ's full year result beat expectation. ANZ jumped 1.7% while NAB and WBC both higher by 0.4% and 0.1% respectively. The AUD retreated to be trading at US$0.9508 after central bank Governor Glenn Stevens commented about the dollar likely to be materially lower in future. The SPI was down 0.5% at 5,405 points on the Sydney Futures Exchange

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