Bell Potter

Overnight: US stocks declined, with the S&P 500 falling from a record, as investors assessed mixed results from American corporations, including a disappointment from Caterpillar. Treasury prices edged higher. The USD held small gains versus most major rivals other than the Yen. Gold futures dipped, giving back a portion of the hefty gains. Oil futures dropped almost 2% after EIA data showed that crude inventories rose more than expected - for a fifth week in a row. The UK's FTSE retreated from an almost five-month high. European stocks moved firmly lower, retreating from the longest winning streak in more than three years, as investors digested more quarterly earnings and news of European Central Bank stress tests on euro-zone banks. London BHP down 1.44%. Rio down 1.27%. New York BHP down 1.38%. Rio down 1.87% LME Base metals pushed sharply lower across the complex.


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