Bell Potter

Overnight: US stocks wavered after data showed a rise in home prices and home-building permits, but also a decline in consumer confidence. Treasury prices rose after a well-bid auction of $35 billion in 5-year notes. The USD fell broadly but continued to show strength against commodity currencies like the AUD. Gold futures settled little changed. Oil futures hovered near $94 a barrel ahead of this week's US petroleum supply reports, as investors considered the impact of Iran's deal with major powers over its disputed nuclear program. Most UK stocks headed south, with Rio Tinto PLC among major losers after scrapping plans to convert a refinery to run on gas. European stock markets fell on Tuesday, after US data painted a mixed picture of the recovery in the world's largest economy. London BHP down 1.81%. Rio down 1.71%. New York BHP down 1.01%. Rio down 1.99% LME Base metals traded mixed.


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