Market Update: The S&P/ASX 200 was down 0.3% at 5,319 points

Bell Potter
Bell Potter Stockbroker

Market Update: The S&P/ASX 200 was down 0.3% at 5,319 points. The market was not able to get any lead from the U.S. markets as they were closed due to Thanksgiving holiday. Financials were mixed with ANZ, CBA and WBC all down between 0.2% to 0.7% while NAB was up 0.3%. Resources were one of the two sectors in the positive territory with BHP rising 0.7% and RIO adding 2.6%. The main focus on the day was GrainCorp, tumbling 22.1% after Treasurer Joe Hockey blocked the takeover bid from Archer Daniels Midland. Forge Group bounced back 12.4% after yesterday's selloff. The AUD fell below US$0.9100 to be trading at US$0.9075. The SPI was down 0.5% at 5,328 points on the Sydney Futures Exchange.

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